JPEG (Joint Photographic Experts Group) By far one of the most common image formats. It's primarily used for photographs. It is a “lossy” type of format, but most people can't really see the difference. You can adjust the amount of compression when saving a jpeg image, so you do have some control over the final output quality. JPEGs are extremely popular since they compress into a small file size and retain excellent image quality.
Keep in mind that the more you compress a JPEG, the more "pixely" it will tend to look. For the best results, save your JPEGs at the "medium" or "High" setting (your imaging software should bring up this option when you go to save as a JPEG).
GIF (Graphic Interchange Format) Limited to 256 colors. Another popular format, especially on the web. It's a lossless format that's ideal for graphics (none photographic images; buttons, borders, etc). GIFs can be either static or animated. If you've ever seen a graphic on a web page that was animated,
you've seen one of these animated gifs.
PNG (Portable Network Graphic) is a lossless image format. It was designed to replace the older and simpler GIF format. Like GIF you can make transparent images for buttons and icons, but it does not support animation. A PNG file can generally end up being twice the size of a JPG and three times larger than a GIF and some browsers, such as older versions of Internet Explorer and Netscape, incorrectly render them.
TIFF (Tagged Image File Format) Can be a lossless format (when used with LZW compression). It won't result in as small a file as a jpeg (which is why it's not used on the web), but you do retain all image quality. When compressed, the file is usually about half the size of the original file. TIFF’s are most commonly used for preparing images, especially photographic images, to go to press/professional printing, such as magazines and books.
Photoshop format (PSD) is the default file format and the only format, besides the Large Document Format (PSB), that supports all Photoshop features. Because of the tight integration between Adobe products, other Adobe applications, such as Adobe Illustrator, Adobe InDesign, Adobe Premiere, Adobe After Effects, and Adobe GoLive, can directly import PSD files and preserve many Photoshop features.
When saving a PSD, you can set a preference to maximize file compatibility. This saves a composite version of a layered image in the file so it can be read by other applications, including previous versions of Photoshop. It also maintains the appearance of the document, just in case future versions of Photoshop change the behavior of some features. Including the composite also makes the image much faster to load and use in applications other than Photoshop, and may sometimes be required to make the image readable in other applications.
16‑bits-per-channel and high dynamic range 32‑bits-per-channel images can be saved as PSD files.
EPS (Encapsulated Postscript) An older format that has been replaced with TIFFs, although you may from time to time run across them or find a need to use them. Best for graphics.
PDF (Portable Document Format) Perfected by Adobe, can be made using Acrobat, but also directly from the print dialog box on the Mac. PDF is a file format proprietary to Adobe Systems for representing two-dimensional documents in a device independent and resolution independent fixed-layout document format. Each PDF file encapsulates a complete description of a 2D document that includes the text, fonts, images, and 2D vector graphics that compose the document. PDF files do not encode information that is specific to the application software, hardware, or operating system used to create or view the document. This feature ensures that a valid PDF will render exactly the same regardless of its origin or destination.