I have heard some people say that lower k ratings can increase algae. But personally I think that it will only really increase algae if you already have something else out of whack.
I have one 4100k bulb and one 18000k bulb on my 32g. I don't notice a difference in volume of plant growth or algae between the two areas of lighting, but my sunset hygrophila only gets the nice red color under the 18000k bulb. I'm looking into changing out the 4100k bulb though because the look isn't as nice as I would like it to be, I'm going to go with a 6500 or higher. My water already has tannins in it so with the yellowish tint of the bulb it just makes it look that much worse.
Something else I read, and maybe someone else here knows if this is the case or not - I heard that the k rating is really only the average so to speak of the color spectrum. So just because two different bulbs are, say, 4000k, doesn't mean that they have the same spectrum, and the spectrum is what matters to the plants more so that the k rating. Someone else may be able to explain this better.