You rename Albums just as you do photos.
To rename a photo, you highlight the photo name and click "File" at the top of the page. Then select "Rename".
Same thing for Album. Highlight the Album name and click "File" at the top of the page. Then select "Rename".
You can also rename albums or photos by using Windows Explorer.
And you can move photos around using Windows Explorer.
I am having a problem renaming the Albums in the Camedia Pro 4.1 photo program that I installed from the CD that came with my Olympus Digital camera. I can rename the pictures, but I want to eliminate two separate Albums I created and move the photos into one with another name. The help section does not go into renaming Albums only photos.