Novice question on Audio formats

1
I'm new to digital recording and am trying to figure out what audio format to record in.

The standard audio format for CD is 44.1, 16 bit, correct?

So, when recording, is it better to record your source material in 44.1, 16 bit to avoid having to do a conversion when it comes time to put it on CD, or should you record at something higher, say 96, 24 bit, and convert it when it is time to press to CD?

If this has already been covered, please feel free to direct me to the thread.

Thanking you in advance,

- R

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