This could mean that the light is out on the brake light. It could be a circuit is not connecting properly. Check to make sure all your lights are working properly. If its still on you should have it checked as it might be a electrical problem instead. == Answer ++ It could also mean you have a problem with your master brake cylinder. You should have your brakes checked out before you have trouble stopping.
The brakes?
fix your brakes
I step on brakes, dashboard light comes on which says stop.
It means warning. Check your owners manual first. Usually its Brakes or Brake fluid.
Could be low on brake fluid, time to have the brakes checked.
You have a hole in your brake line.
Check your car handbook about the brake lights which should light up on the dashboard if the brake pads are worn. If the brakes are noisy and screeching it may suggest worn out pads. You will have to jack up the car and take the wheels off to inspect the brake pads to see if they are worn out.
Try checking Brake fluid level if ok then cxheck pad wear.
you either don't have the brake fully dis-engaged or you need to have your brakes checked for wear.
Could be, Low on brake fluid, Parking brake not fully retracted, Problem with the brake system, Have a trusted mechanic inspect the brakes soon.
Is it the parking brake light or the ABS light? is it red light or amber?
Most cars have drum brakes in rear which the parking brake manipulates. Take off both rear wheels and brake drums. You should see a wire system inside that continues out the rear of the brake housing. This is the parking brake wire. Spray it with WD-40 or an equivilant rust penetrating oil. If this does not work, disconnect the wire from the brake mechanism and the brakes should release.