For God's sake use the search function! Everything you need to know has already been put up in some form or another (in this case, you can use Foobar2000 to convert to whatever format you choose).
Here are some links you can read up on:
Hydrogenaudio's WikiLossless Codec ComparisonFoobar2000 WikiAnd to top it off, read
this to help you become more of an independent researcher where you can pretty much answer most (if not all) of your basic questions, saving the more challenging questions for the forums. Oh, and by the way, (mods, you can modify/delete this if you think this is crossing the line), your mindset of not wanting to be a programmer already exposes your prejudices against doing the work that needs to be done to attain self-enlightenment. The truth is, many of these audio tools do not need that much technical knowledge to configure, and if you get stuck on configuring one of these tools, you can always rely on good ol' Google for help

Only when you are certain that Googling will not answer your question should you pose the question to the experts.
Yeah, I'm tired, I didn't get any sleep, and I have homework due tomorrow, so bear with me.