MP3 is the most widely-supported audio format ever, every device, app, and music player on the planet reads it. It uses lossy compression (typically removing audio frequencies humans can't hear well) to shrink files to about a tenth of their uncompressed size. At 192 kbps and above, the difference vs lossless is inaudible to most listeners on most equipment.
How to open
Every audio player ever made. iOS Music, Android, VLC, iTunes, Windows Media Player, browsers, smart speakers, universal.