Definitely NOT Futura, it is probably a photo type, if this is before mid 1980's. That means it may not be anything in digital form.

- Mike Yanega

The album was a 1964 release. Display headings were typically set by Photolettering at that time. (Just for fun, look up the Visual Graphics Phototypositor, a contraption that looks like it was invented by Rube Goldberg.)
The hot designers of the mid-60s (among them Milton Glaser and Seymour Chwast of Push Pin Studios) were rejecting the sterile modernist style in favor of a more playful, eclectic typography, with a retro touch supplied by 19th-Century wood type fonts that had recently been redrawn for Photolettering. I'm afraid all my Photolettering type specimens fell victim to mold in my old house, but that's what "Bob Dylan" appears to be--a 1960s re-release of an old wood type font.