FLAC stands for "Free Lossless Audio Codec". Like Monkey Audio, FLAC is a Lossless Audio
Compression format. However, FLAC is open-sourced and several hardware decoders can play it, so it may be a bit more
widely supported than Monkey Audio. This is another good format for use in archiving high-quality audio as no quality
is lost during compression.
There are two popular FLAC decoders to choose from. If you're having problems getting one to work, try the other.