I also would suggest working through the entire book. It was written by Brad Miller (one of the founding members of NetPerceptions and professor of computer science at Luther College) and David Ranum (currently a researcher for IBM Watson), so they know what they're talking about and what is relevant.

P.S. If you're keen in solidifying your academic understanding of algorithms be sure to pay attention to the section on big-O notation.

It is rather short and I would suggest going through all of it. It won't take long. Plus don't forget the exercises.

I will, thank you.

I asked more to hear the author's opinion about which of the concepts are most directly applicable/related to web development so I can start with those (feel free to answer if you know!).

Depends what you mean by web development. If you describe the tasks you work on, I can make some suggestions.

Otherwise, the only reasonable answer is http://norvig.com/21-days.html

This is awesome link which will guide everyone who is hunger