FLAC. Doesn't compress quite as much as Monkey's, but I personally think it's a better choice.
Feature list:
QUOTE
[...]
* Fast: FLAC is asymmetric in favor of decode speed. Decoding requires only integer arithmetic, and is much less compute-intensive than for most perceptual codecs. Real-time decode performance is easily achievable on even modest hardware.
* Hardware support: Because of FLAC's free reference implementation and low decoding complexity, FLAC is currently the only lossless codec that has any kind of hardware support.
* Streamable: Each FLAC frame contains enough data to decode that frame. FLAC does not even rely on previous or following frames. FLAC uses sync codes and CRCs (similar to MPEG and other formats), which, along with framing, allow decoders to pick up in the middle of a stream with a minimum of delay.
* Seekable: FLAC supports fast sample-accurate seeking. Not only is this useful for playback, it makes FLAC files suitable for use in editing applications.
* Flexible metadata: New metadata blocks can be defined and implemented in future versions of FLAC without breaking older streams or decoders. Currently there are metadata types for tags, cue sheets, and seek tables. Applications can write their own APPLICATION metadata once they register an ID
* Suitable for archiving: FLAC is an open format, and there is no generation loss if you need to convert your data to another format in the future. In addition to the frame CRCs and MD5 signature, flac has a verify option that decodes the encoded stream in parallel with the encoding process and compares the result to the original, aborting with an error if there is a mismatch.
* Convenient CD archiving: FLAC has a "cue sheet" metadata block for storing a CD table of contents and all track and index points. For instance, you can rip a CD to a single file, then import the CD's extracted cue sheet while encoding to yield a single file representation of the entire CD. If your original CD is damaged, the cue sheet can be exported later in order to burn an exact copy.
* Error resistant: Because of FLAC's framing, stream errors limit the damage to the frame in which the error occurred, typically a small fraction of a second worth of data. Contrast this with some other lossless codecs, in which a single error destroys the remainder of the stream.