Do you hear an air rushing sound when you hit the brakes? Also the rear brakes need to be adjusted every 5 or 10k miles. If you don't adjust them that leaves all 100% of braking to the front brakes and lowers the brake pedal, increases stopping distance, and wear pads prematurely. Also the fact that the car is 21 yrs old is also an issue. You can have a leaking brake line, wheel cylinder, or caliper. If you can check yourself
Remove the rear drums and look at the wheel cylinders. If the shoes and backing plate are soaked you have a leak. If not still look inside of the dust caps on the end of the cylinders. If you see fluid they are leaking. Check all your brake lines and flexible brake hoses for deterioration and leaks. Next check your front calipers. Are the leaking? Are the lines leaking. And finally check your master cylinder. Is there rust forming under the dash near the brake pedal? In that same area is it wet under the carpet and on the firewall? Is it wet behind the master cylinder in front of the brake booster? If so you may have a master cylinder leak. Check all these areas first.
If you don't feel comfortable take the car to a dealer preferably or a reputable shop.
HTH
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