At the time of this feature request, albums in Photos are in development and are planned for release soon.

However, we need to anticipate a very useful feature: "private" or "hidden" albums - the terminology doesn't make much difference.

This is the ability to select an entire album or select photos and videos and hide them from the home screen, requiring you to go to a "private" location that prompts you for a password (or other method) to access what you've hidden.