I know this post was old but I'm new here and thought I'd reply. I had this same exact problem on a 96 XLT and just found it today. There is a guy on this board Singleton who I'm trying to figure out how to send an email to, to thank. I found his info and this site through google.
ANYWAY, at least on the 96 XLT, fuse 26 controls backup lights, O/D lockout, rear window defogger, some part of 4wd (mine has none of this since I have 2wd. After TONS of testing over 3 days I found it, and it is apparently a pretty common problem.
Inside the steering column, there is a twisted pair of tiny wires running over the top of the column by the shifter, then into the shift lever. This is for the o/d lockout switch that is on the end of the shift lever. Over years of shifting and wearing on the insulation on the wire it wears off. Hard to see at first, but you could actually see bare wire exposed. That shorts to the steering column and blows the fuse. The short has nothing to do with the reverse lights, it is just on the same circuit.
Google Ford Explorer Fuse #26 and you will find Singleton's writeup, but you just take the screws off the bottom of the steering column cover, and the top and bottom halfs come off, sort of. It helps to tilt the wheel up and down when trying to move these by the way. Inside you will see a metal piece with the rubber part that covers the shifter where it comes in to the steering column. You lift that metal piece up and bend the rubber a little and you will see the little black wire under there.
I rigged a tester to find this problem. I removed the backup light bulbs completely, and I put a 12V test light across the fuse terminals where I had removed the fuse. When it shorts the light comes on. By shifting from P to R, I noticed when I didn't lift the shift knob hard but just let it drag along the notch between P and R I had a short. Taking it apart and finding the wire I could not for the life of me make it short. But wiggling the wire and touching it to the metal I finally saw a light flicker and that helped me find the short.
Tape the wire well and reassemble everything and everything is fixed, fuse 26 no longer blows.
Seems to be a common problem, and I know the dealer would have charged me a fortune to find it. Thank you Singleton.
Keywords
fuse 26
backup lights
reverse lights
fuse 26 short