FLV (Flash Video) is a video container format developed by Adobe Systems and comes with a .flv filename format. FLV is primarily used to stream audio, video, and text data such as subtitles on sites like YouTube, Metacafe, and more. It supports MPEG-4 Part 10 (H.264) video codec and AAC sound.
RealPlayer, Apple QuicTime Player MPLayer VLC Media Player
M4B is an audio filename extension for AAC format, which is developed by Apple Inc. It is mainly used on podcast and audiobook files. Typically, M4B files contain audio and other metadata like images, hyperlinks, and chapter markers. M4B files are DRM copy-protected and can be opened on Apple iTunes and QuickTime Player.