This is my first post, and I have absolutely no mechanical knowledge of anything, but I do have a '96 XLT that had the same problem (check engine light).
It also had another problem, and by fixing one, the other seems to be fixed too. Maybe it will work for you...
My Explorer had a problem every now and then with starting. It wouldn't happen often, but every couple of weeks when I turned the key, the engine would turn over, but it sounded like it wasn't getting any fuel. Usually though, after just letting it sit a little while, it would suddenly start with no problem.
I took it to the shop several times, but of course it always seemed to be working perfectly when they looked at it, and finally they suggested that I replace the fuel pump, which I did.
A week later, same problem. I waited a while (in the middle of nowhere!), and after thirty minutes or so, I heard a "click" sound from the engine compartment. I turned the key, and started up just fine!
Took it back to the mechanic- he said that it sounded like a resistor (sp) which he replaced at no charge.
That seemed to have solved my problem (it still happens occasionally, but I just jiggle the resistor, and it starts right up), and as an added benefit, the check engine light that had been glaring at me for 20,000 miles turned off- not instantly, but after I drove it around a few times...
You might want to give it a shot- I don't have any idea as to why this worked, but suspect that maybe the resistor has something to do with the emission, or fuel pump, or whatever. Then again, maybe not- could have been some kind of Voodoo thing....
HTH,
Dave