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.
ODT files are type of documents created with word processing applications that are based on OpenDocument Text File format. These are created with word processor applications such as free OpenOffice Writer and can hold content such as text, images, objects and styles. The ODT file is to Writer word processor what the DOCX is to Microsoft Word. Several applications including Google Docs and Google's web-based word processor included with Google Drive can open the ODT files for editing.
You can also convert PST into many other file formats. Please see the complete list below.