Fallout 76 is now undergoing its first phase of beta testing at the time of writing, but there are plenty of unknowns about the game still, one of which is how Fallout 76 handles multiple player characters.
Since Fallout 76 is a server-based always-online multiplayer endeavour, it's a given that players won't have access to save games in the classical sense of the word, which is how things worked in the previous Bethesda Fallout offerings. In 76, player progression is purely character-based.
In the current stage of beta testing, Fallout 76 allows for each player to create and juggle between five unique characters - each of which progresses through the game completely independently of one another, though there's been word of Bethesda transferring progress from beta to stable once the game is officially released.
Since there's no meta-progression tied to players' accounts, we'll have to level up over and over again with each new character, saving their game in specified safe havens instead of being able to do so wherever they want. A necessary adjustment, given the nature of the game.
Fallout 76 is now in its official beta phase, which you too can access, provided that you pull the right lever - if you catch our drift. Be sure to consult the system requirements beforehand, though, and stay tuned for the full release on 14th of November.