This thread provides a bunch of software suggestions too, many of which handle RAW.
RAW files are generally at least 10 bit, nowadays 12-14 is becoming common. IF you just use a RAW editor and process to completion then the final process to 8 bit compressed jpg is "good enough" for the most part. IF you export as 16bit TIFF you 1)don't use lossy compression (jpg loses info) 2)Don't truncate your colors due to going from 10-14bit color down to 8 bit.
The gist of this is true (16bit TIFF preserves much more of the original image data finer steps, and is thus higher quality), but I'll add the technical note that the bit depth of RAW and converted formats are not directly comparable. In particular, a converted 16bit TIFF does not necessarily contain
all of the data of the original 12bit RAW due to color space, gamma and white balance conversions. It certainly contains
enough for all practical purposes though.
In general an editor that works in 16/48bit formats will allow you to make large changes while maintaining higher quality results, whether on screen or printing.