NTFS--
NTFS is a high-performance and self-healing file system proprietary to Windows XP 2000 NT, which supports file-level security, compression and auditing. It also supports large volumes and powerful storage solution such as RAID.
FAT system
The File Allocation Table (FAT) file system is a simple file system originally designed for small disks and simple folder structures. The FAT file system is named for its method of organization, the file allocation table, which resides at the beginning of the volume. To protect the volume, two copies of the table are kept, in case one becomes damaged. In addition, the file allocation tables and the root folder must be stored in a fixed location so that the files needed to start the system can be correctly located.
HPFS
HPFS is used by OS/2 and is supported by Windows NT. It provides better performance than FAT on larger disk volumes and supports long file names. However, it requires more memory than FAT and may not be a reasonable choice on systems with only 8 megs of RAM.