The knowledge that light is polarized precedes the knowledge of the existence of the photon, see polarization of light for the classical point of view.
The polarization state and how it can be decomposed into different modes can be well visualized with the Poincaré sphere.
One key idea about photon polarization is that it carries angular momentum. Therefore, when an electron changes orbitals in the Schrödinger equation solution for the hydrogen atom, the angular momentum (as well as energy) change is carried out by the polarization of the photon!
Start with: Section "String polarization".
Then go to: Section "Polarization of light".
This section discusses the pre-photon understanding of the polarization of light. For the photon one see: photon polarization.
polarization.com/history/history.html is a good page.
People were a bit confused when experiments started to show that light might be polarized. How could a wave that propages through a 3D homgenous material like luminiferous aether have polarization?? Light would presumably be understood to be analogous to a sound wave in 3D medium, which cannot have polarization. This was before Maxwell's equations, in the early 19th century, so there was no way to know.