On this video, Photoshop product manager Bryan O’Neil Hughes takes a look at the topic of file formats and saving in Adobe Photoshop.
Hughes talks about 32bit and 16bit and 8bit, PSD vs. PSB formats, Openexr, TIFF (which has several advantages and disadvantages). He also goes to discuss PDF, PNG, GIF and of course the several types of JPEG. Some of these formats support transparency (most don’t) and more.
If you are looking to learn a bit more about 32bit images in Photoshop be sure to check Rafael Concepcion’s video on 32Bit HDR in Adobe Photoshop CC.