This is what seems to be the history of the Master Sword and the Picori Blade/Four Sword from the new translations of the Historia (thanks to everybody who have translated from the book) (Spoilers all games, of course)
EDIT: Added a new #8 after Locke reminded me on the new FS back story.
1. Hylia, Her Grace, creates the Goddess Sword.
2. SS Link enhances the Goddess Sword and creates the Master Sword.
3. Rauru creates the Temple of Time to seal off the entrance to the Sacred Realm (in which the Triforce rests). The Master Sword is also a part of the seal.
4. The Picori appears with a sword and gives it to the Hero of Men.
5. The Royal Family takes care of the Picori Blade.
6. A new hero draws the Picori Blade (TMC Link).
7. TMC Link enhances the Picori Blade and creates the Four Sword.
8. A hero appears, uses the Picori Blade and the sword was put in a sanctuary.
9. A new hero appears and takes the Four Sword (FS Link).
10. The Four Sword is put back in its pedestal.
11. OoT Link finds the Master Sword.
Adult Timeline;
12A. OoT Link defeats Ganondorf with the Master Sword.
13A. The Master Sword has for some reason [unknown to me] ended up in the basement of the submerged Hyrule Castle.
14A. WW Link draws the Master Sword and kills Ganondorf by pluning it into his head.
15A. The Master Sword is left in Hyrule when the land is flooded for a second time.
Child Timeline:
12B. OoT Link returns to a time before he met Zedla. The Master Sword has not been drawn by OoT Link on this timeline.
13B. TP Link draws the Master Sword, defeats Ganondorf and puts it back in its pedestal.
14B. FSA Link draws the Four Sword from its pedestal, defeats Vaati and seals Ganondorf in the Four Sword.
15B. FSA Link puts the Four Sword back in its pedestal.
Downfall Timeline:
12C. The Master Sword is taken [by someone unknown to me] to the pedestal in the Lost Woods. [This pedestal may be the ruins of the Temple of Time.]
13C. AlttP Link draws the Master Sword, defeats Ganon and puts it back. The Master Sword is supposed to sleep again for all eternity.
14C. The Master Sword may or may not appear in OoX.
/Blue Window