Is it better to use a sealed bandage (padding surrounded by sticky) or the standard style (padding goes to edge)?

Best bandage: The sticky type bandage is nice for a small area, such as an area of sutures covered by antibiotic ointment that you want to keep sealed and dry. The padded bandage is better when you don't want the sticky area to irritate the skin, especially when you can hold it on with a wrap or a bra.

First one: First one should keep the outside world bugs out a little more effectively.

Depends: It all depends on the wound you are treating. For most injuries the regular bandage is appropriate. For more complicated wounds the othe other is needed.