You don’t have to create an album in order to share photos: you can create slide shows, books, calendars, and Web pages by simply selecting photos in your library and then using the appropriate button or command. And by hiding less-than-perfect photos (page 20), you can “edit” an event to contain only those photos you want to use in a project.
Still, when you’re about to create a photo project of some kind, it’s better to create an album first. Albums give you the ability to change the sequence of photos. You can resequence photos while creating slide shows, books, and the like, but creating these items is easier when you start with photos that are in roughly the final order that you plan to use.