3rd gen = Third Generation" meaning the late model Explorers are the third major release of the Ford Explorer since its inception in the early 90's. The Explorer essentially replaced the Ford Bronco
As far as the procedure the fronts are pretty easy to do.
1.) Remove hub cap and slightly loosen the 5 lug nuts and the main axle nut located in the middle of the lug nuts (I think this is a 32mm nut). Do this before jacking up the front wheels
2.) Jack up the front end making sure that you always have 2 supports at all times for safety
3.) Remove the tire
4.) Remove the axle nut.
5.) Remove the entire brake caliper assembly from the knuckle. Carefully support this with a wire or old metal coat hanger from the suspension coil spring. This is necessary to not over stress the rubber brake line.
6.) Remove the brake rotor
7.) Remove the speed sensor. This is the small sensor attached to the wheel bearing with a socket cap screw. Be care full to not damage the wire or sensor head. Keep the sensor head clean.
8.) Remove the 3 bolts that hold the bearing assembly to the knuckle. These bolts are located on the back of the knuckle and are evenly spaced around the drive shaft. I believe the best tool to remove these is a good 15mm box wrench.
9.) Remove the wheel bearing. This can best be achieved with a slide hammer, but I have done it with a baby sledge hammer hitting the hub repeatedly from side to side until it is free. The bearing assembly sits snugly into the knuckle and with corrosion may take some significant 'persuasion' to remove.
NOTE: When actually removing the bearing assembly be sure not to extend the drive shaft CV joints as this can damage them. I use a general purpose pulley puller to push the drive shaft out of the bearing spline while I am removing it.
To re-assemble just reverse the above steps.
NOTE: When installing the speed sensor make sure that the sensor is thoroughly clean as any debris on the sensor will be introduced into the bearing housing
Some torque specs that you will need are:
Lug Nuts: 90-100 ft/lbs
Axle Nut: 186 ft/lbs
Caliper Assembly Mounting Bolts: 86 ft/lbs
Wheel Bearing / Hub Assembly Mounting Bolts: 94 ft/lbs
Good luck on this project, it is not that hard and can save a few $$$ while doing it yourself.
I am sorry that the other members here were a bit less than helpful. On the 3rd gen Explorers the front bearings seem to last for about 65- 73k miles, while the rears seem to last anywhere form 120 - 160k depending on your luck.
A good source for these parts is
www.rockauto.com
--Joe