“Second Time Around” is, appropriately, the second album by Black and Sparrow, a duo that shares a 26-year history, in one form or another. Almost two decades after their debut release, Klyph Black and John Sparrow, veterans of the top Long Island band Rumor Has It, returned to the studio to record 10 new original songs. The band will perform these and more at a release party for the album on Saturday at 8 p.m. at the Stephen Talkhouse in Amagansett.