AC circuits don't have a "polarity" in the true sense of the word (+ or -). However, they are asymmetrical in that they (usually) have a "neutral" and one or more "live" (also called "phase" or "hot") wires.
The neutral wire is connected to ground by the power company, usually at their nearest transformer or power pole.
The livewire(s) carry a high voltage compared to ground. To complete a circuit, you connect a load between liveand neutral.
Because neutral is connected to ground by the power company, it is a low-risk wire. If you touch a bare neutral wire, you are unlikely to be shocked.
However, live wires are high-risk, you may be shocked or electrocuted by contact with a bare phase wire, because by contacting ground you complete an electrical circuit.
It is normal practice to put a switch in the live wire. This way, when you switch something (e.g. a light) off, there is no high voltage present at the appliance. So, if you turn a light off at the switch, if the switch is in the live wire, if you accidentally poke the light socket with your finger you shouldn't get a shock.
If the switch went in the neutral, then the light socket would stay connected to "live" and if you poked it with your finger you may be shocked.
For similar reasons, fuses should always go on the live side. Take a PC which is made of metal. The metal is connected to ground. If a live wire comes loose inside and touches the metal case, then the fuse in the live wire will blow, disconnecting the live wire and preventing the PC case from staying at a dangerous voltage.
The risk with "double fused" items, is that it is possible for only 1 fuse to blow, and 1 to stay active. If the neutral fuse blows, the item will stop working and act like it has no power - but internally, it may be still connected to live, and still be capable of giving a shock if touched.
Sometimes you have to use double fusing if you have a power-lead which can be inserted "upside down", because only a fuse in the live wire will provide protection against a short-circuit fault. If either wire could be live, then both need fusing.