This light is not just to indicate that your handbrake is engaged. Its other purpose is to alert the driver that there is something wrong with the breaking system and it may not stop you as soon as you would like to be stopped the next time you push down on the pedal.
check your brake fluid it sounds like the level is low or the brake fluid resivour cap is lose take it off and clean it then secure it.
Check your break fluid, it might be running low
The 1994 Toyota Camry emergency brake light switch can be found beneath the drivers side dashboard. The emergency brake light switch will be beneath the far left hand side of the dashboard.
Normally that light is an indication there is a problem with the brake system and MOST of the time that is low on brake fluid. There is a possibility (though remote) there is a problem with the switch on the emergency brake pedal.
The dashboard brake light usually indicates a differential pressure malfunction between the two sides of the master cylinder, or that the emergency brake is on. Check the emergency brake, then check the master cylinder. You may need to bleed the brakes. You may need to reset the master cylinder, although they usually reset by themselves.
The running lights will turn off when the emergency brake is on by tripping a switch connected to the emergency brake. Pushing in the emergency brake slightly will do the trick, but make sure you don't push in too far or you will be driving with the emergency brake on!
If your ABS emergency brake light and the track control light show up on the dashboard, you are having a brake problem.
You need brake fluid
If emergency brake is on 1 click it turns daytime running lights off. Pull out on emergency brake handle and see if this fixes the problem.
The release handle is right above the parking brake pedal underneath the dashboard on left side.
If you mean the brake light in your dashboard, it means that you have your emergency break on while the car is on.
parking, or emergency brake
I'd check the sensor for the emergency brake. It's probably faulty.