PNG (Portable Network Graphic)
Image file stored in the Portable Network Graphic (PNG) format; contains a bitmap of indexed colors and uses lossless compression, similar to a .GIF file but without copyright limitations; commonly used to store graphics for Web images.
The PNG format was created in response to limitations with the GIF format, primarily to increase color support and to provide an image format without a patent license. Additionally, while GIF images only support fully opaque or fully transparent pixels, PNG images may include an 8-bit transparency channel, which allows the image colors to fade from opaque to transparent.
PNG images cannot be animated like GIF images. However, the related .MNG format can be animated. PNG images do not provide CMYK color support because they are not intended for use with professional graphics. PNG images are now supported by most Web browsers.
On this link it tells you about PSD and what it is used for. And what different programs relate to this
PSD
PSD is Photoshop's native file format, sometimes it's called
PDD. PSD or PDD is a widely accepted file format. PSD supports
all available image modes (Bitmap, Grayscale, Duotone, Indexed
Color, RGB, CMYK, Lab, and Multichannel).
The PSD format is extremely useful as it can support
duotones, clipping paths and channels. Moreover, PSD offers a
unique feature - it supports layers while every other format
must be flattened on export. Any program that supports PSDs
directly can then leverage this layer information. Saving as
layered images is quite handy as it allows to edit different
parts of an image at a later date far easier.
Photoshop can convert PSD files to other fromat one by one. If you want
to convert PSD to TIFF, JPEG, PNG, BMP in batch use the most powerful Total Image Converter.
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