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ICO is a file format used to store icons on Microsoft Windows. It supports images of various sizes and color depths, and it can contain multiple images within a single file, allowing icons to be displayed in different resolutions and color depths depending on the user’s settings. While ICO files are essential for creating application and file icons in Windows, they are less commonly used for other purposes due to their specific functionality and limited support on non-Windows platforms.

A popular image file format known for its efficient compression techniques, enabling high-quality images with reduced file sizes. It is widely used for digital photography and web graphics, but the lossy compression can result in a loss of image quality, especially when the image is edited and saved multiple times.