Sampling rate is the rate at which digital pieces of audio information (called samples) appear in a track. Simply put, a higher sampling rate will result in a higher quality audio resolution. Some plugins oversample during their processing to give this effect.
Bit depth is the dynamic range of a track. For about every 1 bit, 6 dB is represented. When going from one higher bit depth to a lower bit depth, dither is required to smooth out quantization distortion resulting from throwing out the lower bits.
The CD standard is 44.1kz sampling rate and 16 bits fixed point.
My stuff: / younomusic
Mastering website: http://younomastering.co.nr
Dither guide by Ozone: http://www.izotope.com/products/audio...
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