When to use what?
Gallery:
Gallery is your organization’s main archive.
Assets in the gallery are accessible for all users.
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Collections:
Collections can be considered as a static gallery, where a larger number of assets are gathered.
Use a collection when you want to share assets another organization within your instance.
Collections may also be used when you need to create a set of assets which can only be accessed by a selected group of users.
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Album:
Use an album when you want to group a set of assets.
The album may be shared with other user, your entire organization or externally with a link.
It can be used to organise and share assets, and you can choose to add assets from the gallery, a collection or your My Disk to the album. Assets added from My Disk will only be available for you.
Albums can also be made public for broader access.
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My Disk:
My disk is a personal file area that is only accessible for you. You may use My Disk to reserve assets from the gallery.
My Disk can be used as a separate work space before making the assets available for others.