Multiple OS's, Multi Format Partitions.?

I want to re-partition my Hard Drive to house multiple Operating Systems, but my question regards the partition format. for example, some OS are NTFS and others are FAT32 for example.

Is it possible to have differently formatted partitions on the same Hard disk and also is it possible to repartition without losing my files?

Answers:
Yes, you can have multiple partitions on the same drive formatted differently.
FAT32 is generally a good default format to start with, especially for different flavors of Microsoft Windows as it is almost universally readable/writable and you can later convert FAT32 partitions to NTFS without losing your data.
Programs like PartitionMagic make the partitioning process pretty easy.

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