Since you want LOSSLESS compression that's as good as it gets. There are tomes about this on the web but not only was JGEG and MPG lossy but compressed after the loss. But here's the deal. Drive space dollar per GB is so cheap that you are working hard to save so little?
Bob
I am looking to archive some photo and video files. Most are already LOSSY compressed with formats such as .JPG and .MPG, etc. I know that already compressed files do not compress well at all but want to try to pack them just a little smaller for archival/backup purposes using LOSSLESS compression.
What is the best lossless compression? Speed doesn't really matter. All I care about is that it is a relatively common and well supported format such as RAR or ZIP. I have always found RAR to be a better bet for compression but was wondering if anyone had a better suggestion. Slow speed is not a concern in this case so that is fine. These will be compressed on a Haswell i7 system and can be run overnight if needed.
I am somewhat suspect that there is really no good way to do what I want but wanted to see if there was anything that could even squeeze them down to 80% of their original size? Any suggestions or is this not possible?

Chowhound
Comic Vine
GameFAQs
GameSpot
Giant Bomb
TechRepublic