You should not use plastic wrap to cover hot goods, as this will cause condensation.

You do want to use plastic wrap in the refrigerator to protect foods, as it will help to keep them from absorbing and releasing odors.

If you want to use plastic wrap for foods you intend to freeze, wrap once well in plastic wrap, and then place the wrapped item in resealable ziplock bag, or plastic bag.

Do not use plastic wrap in the oven or microwave as the heat will cause the plastic to release potentially harmful chemicals.

Wax paper
Wax paper is simply tissue paper with a paraffin wax coating.

Wax paper is great for creating a non stick work surface, if you can secure it to a table top or counter.

Wax paper is great for wrapping sandwiches.

Wax paper is ideal for sticking on top of custards, puddings, pastry creams, and curds, as it will prevent a skin from forming on them.

Because wax paper is wax on paper, it would not be smart to heat it, as the wax would melt, and render the paper ineffective.

Parchment paper
Parchment paper is grease proof and silicone coated.

Because of the nature of parchment paper, it is an excellent baking liner.
Parchment paper is a great cover for heating foods in the microwave, as o harmful chemicals will be released when using it.

Parchment paper, while great for many things, is not so great for food storage, and does not work well in the freezer. (A freezer paper, coated with plastic is a much more durable, and better option.)

Aluminum foil
We all like using this thin metal for cooking dinners in a campfire, but we may not know why. Aluminum foil is great for keeping moisture in foods.

It does not matter what side of the foil is up or down, shiny or matter.

Heavy foil is really versatile, it is a great option for freezer foods, and can be made into a bag to store hot foods, and help them stay warm and moist for a short time.

Aluminum foil is great for oven use, but because it is a metal, it should never go in the microwave.

Plastic bags
When referring to plastic bags in this portion we mean the resealable kind unless the term sandwich bag is used.

Plastic bags are great for storing almost any food, in fact, other than cheese (which is best stored in paper), plastic is probably on of the best options.

Light weight plastic bags are great for temporary storage, such as in a lunch, or over night in the fridge. However, for freezer storage, you will want to buy and use the variety specific to freezers. Freezer bags are heavier, and thus better suited for freezer storage.

You will want to remove items from plastic before heating, and the plastic bags can release chemicals that are potentially harmful.