Hello psgillmd
click on "go" in your top toolbar.
in the drop down menu, select "utilities"
in the window that pops up - click on "disk utility"
next, select your maxtor 1 touch drive on the left hand pane and then click on the tab "erase" located at the top of the window.
select what type of format you want - fat32 or ntfs if you want to use it with a PC too, or mac osx extended (journaled) for use with a mac only.
next click the "erase" button in the lower right corner of the window.
click next or okay to any warnings that pop up about wiping the disk (just MAKE SURE you haven't highlighted your mac's disk drive in the first step!!)
you should then end up with a freshly formatted one touch drive.
regards