Files with .PST extension represent Outlook Personal Storage Files (also called Personal Storage Table) that store variety of user information. User information is stored in folders of different types that include emails, calendar items, notes, contacts, and several other file formats. PST files are used for archiving emailing data offline that can be later loaded and viewed in various applications.
Docx is well-known format for Microsoft Word documents. Introduced from 2007 with the release of Microsoft Office 2007, the structure of this new Document format was changed from plain binary to a combination of XML and binary files. Docx files can be opened with Word 2007 and lateral versions but not with the earlier versions of MS Word which support DOC file extensions.
You can also convert PST into many other file formats. Please see the complete list below.