Well, it seems things are like this to me:

Timeline A: A Link to the Past - Fail Timeline

Link fails. In other games if this happens it would mean the end for everyone. But for some reason, this time there are enough competent people who can do something against Ganondorf. What they do? Seal the Sacred Realm (Dark World) because he actually obtained the complete triforce and turned the Golden Land into a nest of evil. How he obtained? This is the real question. Maybe after he defeat Link, Triforce of Courage goes to him. That leaves us to the end of the way: this timeline exist if you get killed in the final battle, crushed by the castle or with a big ganon's sword inside.

The scene at Twilight Princess when the sages seal Ganondorf in the Twilight Realm also occurs in some form in this timeline, while as an adult you "woke up" the sages (Saria, Darunia, Ruto, Impa, Nabooru/Rauru and Zelda) they could have been the ones making that seal ALTTP mentioned, and for some reason Zelda lost her piece of Triforce. Other possibility, is that the awakened sages could have died/been killed (Zelda included, which explains how Ganon obtained the Triforce of Wisdom) and the spirit of those wise people reincarnated in the 'Seven Wise' that A Link to the Past mentioned in the beggining.

This sound logic at some point because in this game you actually need of those sages, not to defeat Ganondorf, but 'only' seal away. You never killed him.

Timeline B: Majora's Mask - Child Timeline

After Link defeats Ganon, he was sent back and warned Zelda or something happens. Ganondorf is arrested and that leads us to Twilight Princess. One thing to mention is about the releationship between Zelda and Link in the scene at Majora's Mask when she gives the ocarina to him.

You can watch here:

http://www.youtube.com/watch?v=rOcBfzrswnA&feature=related

4:00 - Zelda talks about how she knows Link for a short period of time (between Link warned Zelda and Ganondorf being arrested), but feel like she has known him forever (events at Ocarina of Time, but she didn't live those).

The only thing I can't explain is how Link/Ganondorf gets their respective piece of Triforce.

Timeline C: Wind Waker - Adul Timeline

Firstly, the timeline when you pull off the Master Sword from its pedestal it is the same as the one you defeat Ganon seven years later. Basically, the split child-adult could have not been posible if Link stayed in the time when he defeat Ganon. No matter whats happen in the world as a child, seven years later the Hero of Time will appear to try to stop the King of Evil.

But, as Zelda sents back Link, the bump happens. The timeline when you and the sages sealed Ganon has no Link for seven years. Going back could end with two Links seven years later, which makes no sense. So, the split happens becuase seven years later Ganondorf will not be the King of Evil with the Triforce of Power, instead was arrested and sealed at the Twilight Realm.

In the Adult timeline there is no more Hero of Time, and once Ganon broke the seal, ends with a flooded Hyrule.

With this is mind, events in Ocarina of Time occurs in the Timeline A and C, but not B. Difference is in the A you lose, in the C you win.

That was a pretty long explanation, but it's a secret to everybody.

It would have to be the case that Ganondorf made his play after Child Link blew the whistle on him, succeeded in breaching the Sacred Realm and scattering the Triforce. As per Twilight Princess, there had to be a struggle involving the sages (though perhaps the old sages, e.g. Rauru's compatriots) before Ganondorf was subdued and sealed in the Evil Realm (which neighbors the Twilight Realm, which he was able to break into to launch the events of TP)

Neither of yoru last two posts are strictly true. The SIlver Gauntlets always existed, the problem is that Link created a timeline where he spontaneously ceased to exist by removing them and bringing them forward, since he couldn't get them himself in the present.

And it's not required that Ganondorf go into the Sacred Realm in the child timeline. It's plainly illustrated and confirmed in the Historia that the original Triforce split carried back retroactively; Link has the Triforce of Courage in the very end of Ocarina of Time.

Carried back retroactively? Now that's some time-travel mind-fuckery if i've ever seen it, although i suppose it makes sense in its own twisted way, that if Link retained the triforce of courage and the triforce of courage could not exist twice, then Ganondorf ends up with Power and child Zelda with wisdom, least there be a paradox that explodes the universe

Furthermore, Mr Khan, what makes you say Ganondorf was sealed in the Sacred Realm in TP? He is very clearly sent directly to the Twilight Realm, and as an act of desperation on the Sages part, at that.

We now know the characters of Twilight Princess actually possess their Triforce pieces, by the way. I know some people were not fond of that idea, though it was always consistent with OoT's ending.

I am somewhat surprised that Nintendo would make the death of Link canon, but it is also quite refreshing in a way. The stakes are always higher when the good guys have a confirmed loss on their side. It is also consistent with ALttP's backstory mentioning the death of the Knight(s) who protected the Sages. Ganondorf must have taken the missing pieces as well, which again makes for a much smoother connection between ALttP and OoT. Link's sacrifice certainly was not in vain.

I think having a timeline where Link fails was an interesting move.

This guy explains where the splits in timeline happen pretty well.

http://youtu.be/umS4flaa-20

I don't get what the Song of Storms has to do with the timeline.

Hahah! I had to replay the beginning of Minish Cap to be sure a little... It did mention something about a sky.