You can easily create and manage albums on Carousel app. To create an album on Carousel web, select the photos which you want to add to the album. You can select photos by clicking the check marks on each photo in your Timeline. You can click "Select" button to add an entire event to an album. After selecting all the photos, tap "..." icon located at the top of the window and select "Add to album" option. Here you will get 2 options i.e. add those photos to an existing album or create a new album with those photos.
If you want to manage your albums, then select "Albums" button. You will see all your existing albums located at the left side of the window. The "Albums" tab shows the albums you had on Carousel for mobile as well as the Dropbox Photos tab. Now select your album and tap "..." icon to rename or delete that album.