I've replaced the mechanical ignition switch in of one my '94 Explorers, as it was "falling apart" like yours, and it only came with one key. So I looked into it, and here's the deal; it should be the same dope for your '93 Ranger- single key that works ignition and doors.
It's called a "10-cut key" system. Cuts 1,2,3,4,6 work the ignition switch cylinder and cuts 5,7,8,9,10 work the door lock and glove box cylinders. Both groups of lock cylinders share cut 6, which is why a a Ford dealer sells replacement ignition cylinder based on the depth of cut 6 (there's five cut depths, or 5 total possibilities).
Like this:
I'm not sure how compatible the lock parts from a '96 Explorer will compare to a '93 Ranger. A little parts number comparing on a website like RockAuto may help you there.
What I did on my Explorer, sounds crazy (I'm sure the counter people thought I was crazy) but I went around the local parts stores and asked to look at the new replacement switches that they had in stock. Sure enough, I found one with the same cuts as mine, just in the wrong positions. A new cylinder will have keys that are only half cut, for the ignition part:
What I had to do was take both old and new cylinders apart and rearrange the six tumblers in the new lock to match my old lock.
Kind of aggravating, precise work but actually really easy; take tumblers out of your old one in order and rearrange the new lock tumblers to match:
After putting the reassembled new cylinder back in, my old (single) key would start the truck. Then I went by a locksmith, bought two more new blank keys, and had him cut them to match my original key. The ones that came with the new cylinder won't work after repinning the cylinder
This was about 7 years ago; it was $19.25 for the new cylinder and the locksmith charged me $4.89, and most important to me, it all works like it should, and I now had 3 keys.
Might be an option for you, as compared spending a pile of $ to have a locksmith do it all. I'm just not sure about the '96 Explorer parts being the same.