For the Buddhists of Sri Lanka, Thailand, Ceylon, it’s the Pāli Canon

Tipitaka1 - Wikimedia Commons

For the Koreans, Chinese etc it’s a the Chinese Buddhist canon

The most complete preserved early collection of this canon is the Tripitaka Koreana

For Tibetans it’s the Tibetan Buddhist canon

So, different collections for different groups of Buddhists.

The Pali canon is the earliest one and some think that it records the teachings of the Buddha himself, as memorized towards the end of his life, and then for generation after generation until they were eventually written down, using similar methods to those used to preserve the Vedas which everyone agrees were preserved word for word.For more on this, Robert Walker's answer to Is there proof that Buddha existed? If so, what is the strongest proof about his historical existence that we have?

The other canons include many texts known to be composed long after the Buddha.

It’s a bit different from sacred texts in other religions

• Compared with most religions (apart from Hinduism with a vast literature) there is just such a huge amount of material. Many keen Christians will read the entire bible. But there’s no way an ordinary Buddhist who is not a scholar is going to read the entire Pali Canon. So you rely on scholars and your teachers to read them for you. Buddhism has always been strong on scholarship. You may read some of the most famous sutras, the wheel turning sutra, or for Mahayana Buddhists, the heart sutra, for instance. You may read the life of the Buddha, but again probably not from the sutras but rather summaries by others.
• Buddha taught that there is no value in asserting things to be true because some sacred text says so. So there is nothing in the entire canon that you are required to assert as a creed, just because it is written in the sutras. This marks them out as different from most sacred texts.
  
  However the teachings are still sacred in the sense that they can help you follow the path of the Buddha and carry the inspiration of that path. With many detailed suggestions and guidelines, and also for monks and nuns, long lists of rules of conduct for them, and ethical advice for everyone, all to do with being less of a nuisance in the world, which is also the groundwork you need to have the space to follow the path.
  
  You can commit to follow the path of the Buddha, and the extensive sutras help to make it a clear path you commit to, they help to ground that path, and help to protect you also from false teachers. As a path of continuing discovery where you uncover truths that you see for yourself and illusions fall away. But you never are required as a Buddhist to assert something to be true which you can’t see to be true for yourself. And you are open to truth in whatever form you find it. If you find a truth that seems to contradict what Buddha said, the truth is what you follow.