FAT32 is a legacy file system that has been around for decades. It is known for its broad compatibility, making it suitable for use with various devices and operating systems. However, it has some limitations, including a maximum file size of 4 GB and a maximum volume size of approximately 2 terabytes. While it supports long file names, it may not be the best choice for modern storage needs, especially when dealing with large files or very large storage capacities. FAT32 is commonly found on USB flash drives, memory cards, and older external hard drives.