I can't speak about video, but with audio, the quality isn't defined by the bitrate. Audio can have lossless compression (FLAC is an example), and the bitrate won't matter because the original can always be recreated from the FLAC, regardless of its bitrate.

Audio quality is measured in sample rate and bit depth. The sample rate is the amount of samples of the audio wave per second. The bit depth is the amount of bits of information for each sample.

The most common audio quality is CD quality. It's the quality you get from CD rips, and it's already good enough that you won't hear a difference above it. It is 44.1 kHz of sample rate, with 16 bits of depth. Also commonly represented as 16/44.1.

The second most common audio quality is 48kHz of sample rate, with 16 bits of depth (16/48).

In terms of sample rate, you can have: 44.1, 48, 96, 192 and 384 kHz. You can have higher numbers, but they're impractical and I've never seen it even with mixing material.

In terms of bit depth, you can have: 16, 24 and 32 bits of depth. Again, more is possible but impractical and never used.

Any combination of those 2 is possible, and higher numbers will yield higher bitrate. As a rule of thumb, CD quality will be ~1000-1300kbps in FLAC.

That is already more than enough for anyone, and even though there are people that claim to be able to hear a difference between it and higher quality versions, I very much doubt them. Regardless, to even have a chance at distinguishing them, you'd need an expensive setup with expensive wired headphones and an expensive external DAC (wireless headphones use lossy compression to send the audio through bluetooth, so it makes no sense to worry about audio quality with those).