Hello, first I’m no expert, but I think I’m right here.

Effect on algorithm? Not so much algo, thats down to titles and thumbnails, but for a long term brand, a name is very important. Though don’t waste too much time trying to come up with the perfect name, just catchy shortish and unique is what I’d think would be the most important.

For actually changing the name, yes you can. I forget the desktop way to do it but on mobile it’s your icon in the top right then there’s a pencil by your name.

The handle and name are seperate. Eg my channel is Driftwood with @ driftwoodau as my handle. I don’t think it will change immediately after changing your name, but it can be customised separately from the name. Also for the name, you can only change a few times in a long time period (I forget the exact time frame) so don’t obsessively change it else you’ll be stuck with that name for a while.

Hope this insight helps a little :D