I have never heard of white algae but then i don't propose to know everything. My guess would be bacterial or fungal infection. Some more information would be helpful. What kind of tank, how big, water parameters etc.
Is there perhaps uneaten food in your tank that is rotting? It sounds like some kind of fungus to me. It's unlikely it's harmful to your fish, and some extra tank vacuuming should help get rid of it.