A SoundEffect represents the buffer used to hold audio data and metadata. SoundEffectInstances are used to play from SoundEffects. Multiple SoundEffectinstance objects can be created and played from the same SoundEffect object.
The only limit on the number of loaded SoundEffects is restricted by available memory. When a SoundEffect is disposed, all SoundEffectInstances created from it will become invalid.
SoundEffect.Play() can be used for 'fire and forget' sounds. If advanced playback controls like volume or pitch is required, use SoundEffect.CreateInstance().