I think he means to compress something, such as a video, but keep the quality, and have it compressed, for the low size. Personally, I use winrar for all file compressing, and transporting from computer to computer. I have used winrar for movies, although it took like an hour to compress, the quality was the same as it was before I compressed it. If your not talking about a that, please specify?
EDIT: Ok, I just noticed the codec part. So your looking for a way to compress files onto a DVD/CD without lessening the quality. If you want to just store files, use winrar or winzip. I've read about codecs, having never used it before, but as far as I know, codec is a preogrma htat allwos you to comrpess your files, but codecs are lossy, so they lessen the quality, correct me if im wrong?