If you save your audio file in an integer format, the range is restricted to a certain range. So if clipping occurred in recording or mixing and you save this file, everything above this range is gone forever.

In the opposite the float range is not restricted, data is normally written in the range between +1.0 and -1.0 but it can also be something like + 1.41253757 what would be +3 dB above maximum. So if you play back this file it will clip your DA converter, but no information is lost. Just decrement the level in your DAW to an applicable value and everything is OK again.