February 08, 2013, 2:34 PM — Here's how you can rename photo albums on your iPhone or iPod Touch.
1. Open the Photos app.
2. Tap on the Edit button in the top right corner.
3. Tap on the name of the album.
4. Type in the new name of your album, then tap Done.
For more, see the original article at the link below.
How to Change Photo Album Names in iOS | OS X Daily