FAT32 is an older format that is supported on most systems, and is the best option provided. NTFS may cause issues between systems and OSs. HFS+ is the native OSX format and is not natively supported by some OSs (to include Windows). AES-128 is an encryption standard.
File Allocation Table (FAT) is a computer file system architecture Originally developed in 1977 for use on floppy disks, it was adapted for use on hard disks and other devices It is often supported for compatibility reasons by current operating systems for personal computers and many mobile devices and embedded systems, allowing interchange of data between disparate systems The increase in disk drives capacity required three major variants: FAT12, FAT16 and FAT32 The FAT standard has also been expanded in other ways while generally preserving backward compatibility with existing software FAT is no longer the default file system for usage on Microsoft Windows computers