What are jpg and psd?

Photoshop

JPEG is a commonly used method of lossy compression for digital Photography (image). The degree of compression can be adjusted, allowing a selectable tradeoff between storage size and image quality. JPEG typically achieves 10:1 compression with little perceptible loss in image quality.

Photoshop is a graphics editing program developed and published by Adobe Systems Incorporated.Adobe's 2003 "Creative Suite" rebranding led to Adobe Photoshop 8's renaming to Adobe Photoshop CS. Thus, Adobe Photoshop CS5 is the 12th major release of Adobe Photoshop. The CS rebranding also resulted in Adobe offering numerous software packages containing multiple Adobe programs for a reduced price.