blown wires

You know the black box with the heatsinks on the left side of the engine compartment, on top of the coolant reservoir? (97 Blazer LS 4.3 Vortec) There are three plugs plugged into its far side. The wires going to the middle plug (labeled PED 14 on the plug itself) have blown completely apart about three inches up from the plug. I'd been driving the car around for a while before I even noticed it, so Im not too sure how important it is but it seems to have something to do with the computer Im thinkin. GM wants to charge me 85$ to diagnose it n Im too poor for that junk right now. Would anybody be able to tell me what that plug involves, how serious the condition is, and what's the best (and more economical) way to fix it?

That's your ECM. The one that you descibe is the 5 pin 1 in the middle... What do you mean blown up? Can you see metal? If so, simply remove the plug from the ecm, pull back the electrical tape. Cover each individual bare area with hot glue, then wrap in electrical tape. BTW, that's part of the ABS interface.

Thanks for the info... the plug itself is fine, its the wires leading to the plug that have blown completely apart about 3-4 inches further up. Ive already thought about patching the wires back together but the wires' colors have eroded to the point where I cant tell which wire goes with which. So I simply cut off the ragged ends and wrapped them wit electrical tape.
Do you know what could have caused this possibly??
and is driving the Blazer in this condition unsafe?

I had a squeaky belt as well so I changed the idler pulley.. it ended up being the alternator that was squealing so loudly. Got it checked out at SEARS (bought my batt from there) n it checked out fine but the alt pulley squeals pretty loud. Not sure if this has something to do with it but figured I should mention it anyways for FYI purposes.

the wires' colors have eroded to the point where I cant tell which wire goes with which. So I simply cut off the ragged ends and wrapped them wit electrical tape.I would follow the wires back to wherever they go (peeling back tape as necessary) until you can see the colors again, then go to the junkyard to get a good plug with plenty of wire attached off a wrecked vehicle and splice it in.