M4P (MPEG-4 Protected) is a digital audio file extension for the AAC (Advanced Audio Codec) container format. It uses lossy compression and is an audio-only file. In most cases, M4P files are purchased on Apple iTunes, which means they are DRM-protected. M4A is the unprotected version of M4P.
ASF (Advanced Systems Format) is a digital multimedia format designed to save and open content online. It is the primary container for Windows Media Video and Windows Media Audio content. Today, ASF supports smooth playback on HTTP servers, media servers, and local storage with programs like Windows Media Player.