It is best to use raw materials for editing video and audio in lossless formats. Wave and AIFF are audio formats without compression, so they are most preferable in terms of the highest possible quality of the source material. But the size of the source file at the same time will be maximum.
If space for editing is limited in size, then it is better to use a lossless compression format: .m4a ALAC.
From lossy compression formats, it is better to use .m4a AAC.
Designed to be the successor of the MP3 format, AAC generally achieves better sound quality than MP3 at the same bit rate
The .mp3 format is a lossy compressed audio. Therefore .mp3 is the least preferred source material.