You can create a new alpha channel and then use painting tools, editing tools, and filters to create a mask from the alpha channel. You can also save an existing selection in a Photoshop image as an alpha channel that appears in the Channels palette. See Save and load selections.
To change options for an existing channel, double-click the channel thumbnail in the Channels palette.
Options available in the New Channel and Channel Options dialog boxes:
When the new channel appears at the bottom of the Channels palette, it is the only channel visible in the image window. Click the eye icon for the composite color channel (RGB, CMYK) to display the image with a color overlay showing the mask.
To remove areas in the new channel, paint with white.
To add areas in the new channel, paint with black.
To add or remove areas using opacities less than 100%, set the opacity in the options bar of the painting or editing tool and then paint with white or black. You can also paint with a color to achieve lower opacities.