MP3 is an incredibly versatile audio format, but WAV (Waveform Audio File Format, the standard created by Microsoft for Windows devices and PCs but which works well on Mac operating systems too) is the format of choice for video and audio editors. WAV files are lossless compared to the lossy MP3 file format, meaning that WAV audio is a high-quality uncompressed file. This also means WAVs are typically larger in file size. It’s why MP3 audio is ideal for smaller devices and streaming, while the WAV format is excellent for studio recordings and audio mastering.
You can easily use Media Encoder to convert MP3s to WAV file format for all your sound engineering and audio editing needs.