ON your 92 I believe the charging wire from the alternator (black with orange right?) goes over to the drivers fender skirt then all the way along the radiator support and over to the starter relay on the fender. This is where it meets up with the red wire that goes to your battery + terminal, as well as the + wires for your relays and power distribution box.
This is from memory on a stock 92, but it should be similar in one way or another.
yes if you are shoing 14.75 volts at the alternator post and not at the battery this means the alternator is charging (voltage regualtor is powered and the belt is spinning the alternator which is generating the proper voltage) but the charge is not getting to your battery + terminal.
Trace the wires, heck remove the alternator wiring loom if you must, it is not that difficult. I have rebuilt mine several times now, these wires wear out faster then most under your hood.