MP4 (MPEG-4 Part 14) is a video container format based on QuickTime MOV. But unlike MOV, it adds support for other MPEG features. MP4 supports video (MPEG-4 Part 2 and MPEG-4 Part 10/H.264), audio (MP3, AAC, SLS, TTSI, and ALAC), and subtitles (MPEG-4 timed text). It’s this codec combination that gives MP4 its flexibility.
Windows Media Player VLC Media Player, Apple QuickTime Player 5KPLayer
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