The word "brake" appears in the the indicator area and just below it is an circled arrow with a triangle in the center. What does that indicate. I've looked it up in the manuel and it's confusing.

Problem with brake system. Check fluid level.

Brake Trouble Light This symbol, and the Canadian version below, could indicate a serious Brake problem, but the light will also be on when the hand/emergency brake is engaged. So, if you are sure the hand/emergency brake is released, bring your vehicle to a stop as soon as possible and contact your dealer. To continue driving could well be dangerous.
Brake trouble light in Canada, and other areas. The look of the Canadian symbols involving brakes are supposed to resemble the physical appearance of brakes. They do, but primarily only to people who have had the opportunity to take them apart. The word 'brake' may appear at the top of the image.
Note that the symbol of a circle with "brackets" on either side, broken or otherwise, represents brake components. What is shown inside and the details of the "brackets" and color specify the nature of the problem.

this is to indicate your brake pads are low, have them checked

Traction Control

68-) Warning indicating ESP malfunction: Indicates that there is a problem with the vehicle traction control/anti-skid or electronic stability system.

https://carwarninglights.net/cars/bmw-dashboard-warning-lights-meaning/

Here is your Owners Manual

BMW 325I OWNER'S MANUAL Pdf Download ' ManualsLib

https://www.manualslib.com > ... > Automobile > 325i

View and Download BMW 325I owner's manual online. 325I automobile pdf manual download. ... Automobile BMW SERIE 3 SEDAN 2002 Owner's Manual.

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Circle with dashes on the outside is brake pads worn indicator. The light bulb looking one is exterior bulb out indicator, the triangle if you have it is ASR slip.

brake pad wear indicator.
front pads have wear sensors on them.
get replacements TODAY.....

If the triangle has an ! in the middle of it then it's to indicate that DSC or DTC is on for stability.

a circle with a P = parking brake is applied
a circle with an ! = WARNING check indicator lights
BRAKE indicates a problem within brake system
see that emergency brake is fully disengaged,if lights remain on have brake system repaired.

On a 1998 3 series (E36) BMW, this indicator lamp is for the ASC+T = automatic stability control plus traction. It should go shortly after the ignition is switched on implying that the system is OK.
If the indicator lamp fails to go out after the engine is started, or comes on in the course of normal vehicle operation it means that the system has malfunctioned. The vehicle remains operational, but without ASC+T. You a have an 2001 3 series (E46), but I suspect the indicator lamp means the same as the E36 3 series. Look in owners manual under "indicator lamps"

does the one look something like this? IIIOIII or (((O)))

this is the brake wear indicator saying that you need brake pads somewhere on the car (front or rear).

the other sounds like you either have the traction control (its a button with either DSC or ASC written on it) turned off or its showing you that it is off because you need need brake pads.