What is Truth?
For the Hebrews, a name was far more than a handle or a means of identification. It was the very being of that person; hence the need at times for a person's name to be changed.
The Hebrews used several names for God, depending on the situation. For example, the people who wrote Genesis chapter 1 did not use the name YHWH until it was revealed to Moses at the "burning bush", whereas the writers of the Creation myth of Genesis 2 used the tetragram for God's name.
The writers of Genesis 1 (written after Genesis 2, by the way) used God's name of "EL". Information is available on the sources of these names, and where the Israelites took their YHWH god from, but that's another issue.
In many instances, the EL is incorporated into the names of people and of places (Bethel, meaning "house of God", incorporates the EL name, for example).
Thus when Jacob encountered God his name was changed to include God's name - Israel. Knowing its origin will ensure that you will always spell it correctly.
BTW. EL was the "super God" who had a pantheon of minor gods; YHWH was one of these minor gods - he was an angry warlike god. When the Israelites adopted YHWH as their god, they took EL's wife Asherah and gave her to YHWH. You will see references to Asherah in the Bible; the general populace worshiped her alongside YHWH, as archaeology confirms. It's just that the priests were against that arrangement - and it is their wriitngs that you read.
Doug