What is AIFF?
AIFF is Apple's uncompressed audio format - WAV's counterpart from the Mac side of the world, and still what Logic and older Pro Tools sessions use. It stores its sample rate as an 80-bit extended float, a piece of 1980s exotica most converters get wrong.
What is MP3?
MP3 is the format that made digital music portable, and thirty years on it is still the safest bet that a file will simply play - on any device, in any car, in any decade-old piece of hardware. It is lossy, and its patents expired in 2017.