What is The Best Format For Image

This is very helpful if you wonder what format to save images with. I usually use PSD or Tiff ,, in photoshop & paint shop pro but for the web I always save a PNG format .. it a larger file but has transparent , and does not loose color, or does not get blurry like .JPEG does .. Every time you retouch . or use a jpeg or gif it gets blurry & loses color . I hardly ever save in JPEG format .. & I only use gif .. if I animate .. which is not often