Improving your understanding of algorithms requires studying their concepts and practicing their application. Start by learning the most commonly used algorithms in competitive programming, such as sorting, searching, dynamic programming, and graph algorithms. Practice solving problems that require these algorithms to reinforce your understanding. Analyze the time and space complexities of each algorithm to know when and how to use them efficiently. Additionally, study advanced topics like greedy algorithms, divide-and-conquer, and data structures. With consistent practice and a deeper understanding of these concepts, you'll improve your algorithmic thinking and problem-solving skills.