I took the August 2023 Algebra Prelim and passed. Here are some tips on how to succeed in studying for the Algebra Prelim.
Start as early as possible. I started studying in the end of May (around 1-2 hours per day) and then increased to 3-4 (for the last month).
Re-do past homeworks and exams from the course. I noticed that similar questions appear in the prelims.
Build a study group with peers. I had a study group of 3-4 of us for the entire summer. We met twice per week to work on practice problems.
Past prelims at VT: personal.math.vt.edu/plinnell/Teaching/Algprelims/index.htm
Other University's exams I found helpful:
Practice exams created by me using a selection of Dummit + Foote and Hungerford questions (will add more):