Long answer: Free Lossless Audio Codec (FLAC), as the name suggest is lossless, i.e. there is no quality loss. Same goes for ALAC. Since there's no 'sound' to these codecs, the question whether one sounds better than the other doesn't make sense.
edit: @Radio_head: Afaik, both FLAC and ALAC support 24-bit, 192 kHz.
Or you can unpack the FLAC files using the FLAC GUI, then encode all the resulting WAV files with iTunes. dBPoweramp will be quicker to use, but that program will only take 16-bit, 44.1kHz files.
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