Well, there are two ways to clear the codes...
1 - Unhook the NEG cable from the battery for five minutes and hope the light doesn't turn back on.
2 - Or as I previously said hook an OBD-II scanner up to the car (Autozone does NOT charge anything to do this (at least mine doesn't)) they can tell you what is wrong, give you a little print out about possible conditions causing it, then clear the codes to turn the light off.
There are numerous reasons for the light coming on, all of them should still leave your car drivable if there was anything wrong chances are you probably have noticed it already, like the engine running rough, white, black, or blue smoke coming out of the tail pipe, very bad gas mileage, etc.
Someone previously mentioned their O2 sensor being bad for two years, on the Esteem it uses the "4 wire" O2 sensor instead of a 1 or 2 wire, two of the wires are for the actual sensor, the other two are for a pre-heater circuit that makes the O2 sensor heat up really fast so that it starts doing its job sooner. The pre-heater blowing its heating element (creates an open circuit) will make the "Check engine" light come on, the O2 sensor will still work fine to keep the engine running like it should but to fix this the entire O2 sensor still has to be replaced.
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