Fotobooks+ is a US$0.99 app for iPhone that lets you organize photos in your Camera Roll into albums. The results look great and can be locked to keep select photos private. Here's my look at Fotobooks+.
Pictures can be annotated with captions, which only appear once you've tapped an image. A second tap replaces the album backdrop with a black background.
If you have a Dropbox account, the albums can be saved there, and retrieved from the cloud if disaster strikes. Additionally, images can be emailed or sent to Facebook directly from the app.
Gallery: Fotobooks+