Before you go throwing parts at it, clear the codes, drive the car for a couple hundred miles, then recheck the codes and see if anything came back. Sometimes you'll get a one-time malfunction that will get stored by the computer. Since your CEL is currently illuminated, that's a good indicator that something is faulty(usually emissions related), but you should make sure the problem still exists before replacing expensive sensors or components
Yes, '96 and newer(OBDII) models have pre-cat and post cat o2 sensors. Bank1 Sensor 1 is the pre-cat. I like to replace o2 sensors in pairs if finances permit, but they are a little pricey
Just make sure you buy Bosch OEM sensors, not the cheap stuff you see on ebay.