Fma. is the abbreviation for form (in latin) - and is used to designate minor differences from the typical form of a species. In orchids most often colour differences in flowers (e.g. P. bellatulum fma. album) or leaveage (P. concolor fma. chlorophyllum).
Var. stands for variety - and designates more markedly (morphological) differences from the typical form, but not sufficiently such for elevating the plant to the rank of an independent species.
I think a good example of this would be: Paph. hirsuitissimum var. hirsuitissimum (as the typical form will be called, when varieties have been described in the botanical litterature - though of course nobody calls the typical variety other than x 1 hirsuitissimum in the colloquial) vs. Paph. hirsuitissimum var. esquirolei.
If you read botanical litterature you will again and again encounter discussions about the taxonomic status of orchids, f.ex. is Paph. anitum a species in it's own right or is it better described as a variety of Paph. adductum, P. adductum var. anitum?
At some point in time all known plants in the section 'cochlopetalum' that we now treat as species in their own right (P. victoria-regina, P. victoria-mariae, P. liemianum, etc.) were by some authors described as varieties of Paph. chamberlainianum (as P. victoria-regina then was named).
The latter is a good example of what has jokingly, but aptly been described as the trench warfare between "lumpers" and ""spreaders" among botanists.
Then to "album": back in time it seems that botanists were inclined to designate white or other colourforms from the typical as varieties. Where as these days they use the designation form, fma.
Album - or alba if the genus gramatically is of the female gender as f.ex. Cattleya - means white in latin, and ought to be used only for all-white flowers. However the term is more often than not used as a broad term for albinistic colour forms as such.
The whole matter is a bit complicated, also due to the rules for the nomenclatura of botany, and I think the one, who best describes the kerfuffle is Dr. Braem in the article, I've attached.
Olaf Gruß takes (more or less - I haven't compared side-by-side) the same view in his monograph on 'The Genus Paphiopedilum Albino Forms'.