FLAC stands for Free Lossless Audio Codec. FLAC is lossless and compressed. It is similar to ALAC. FLAC was first released on July 20th, 2001. It is developed by xiph.org. It is one of the most widely used lossless audio formats today.

Note: iPods cannot natively play FLAC files. It is recommended that you either switch to a supported format like ALAC, AIFF and WAV, or that you use an alternate operating system such as Rockbox.

Resources

Official Website about the FLAC format: https://xiph.org/flac/index.html
Wikipedia Entry for FLAC: https://en.wikipedia.org/wiki/FLAC

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