FLAC stands for Free Lossless Audio Codec. Grossly oversimplified, FLAC is similar to MP3, but lossless, meaning that audio is compressed in FLAC without any loss in quality. This is similar to how Zip works, except with FLAC you will get much better compression because it is designed specifically for audio, and you can play back compressed FLAC files in your favorite player (or your car or home stereo, see supported devices) just like you would an MP3 file.
FLAC is freely available and supported on most operating systems, including Windows, "unix" (Linux, *BSD, Solaris, OS X, IRIX), BeOS, OS/2, and Amiga. There are build systems for autotools, MSVC, Watcom C, and Project Builder.
Download it here
Download Windows Installer here