On August 2nd, 1962, singer-songwriter Robert Allen Zimmerman legally changed his name to Robert Dylan, months after the release of his self-titled debut, Bob Dylan. In a 2004 interview with CBS, Dylan explained his reasoning behind his chosen name:

This photo is the album cover for Dylans 2nd studio album titled “The Freewheelin'”
Photographer Dean Hunstein photographed the album cover in the West Village area of NYC.

The cover is a candid photo of Dylan and his then-girlfriend Suze Rotolo as they walk on the road near their apartment Jones Street and West 4th Street in New York City