There was a documentary on Discovery Channel on AK47 and
M16.
AK47 has more firepower, does more impact, but its bullet travels a
shorter distance when compared to the M16 due to its heavy bullet.
The AK47 is extremely ruggard and can still be used even when it's
rusty.
M16 is lighter, not as strong as AK47, and has lighter bullets. The
M16 is rather sensitive as it cannot fire bullets if it's dusty or
dirty, so it has to be frequently maintained.
If you're referring to Counter-strike, I prefer the AK as it has
higher damage and accuracy.