Do you have any data on the external drive you need to keep?
If not, go to Applications --> Utilities --> Disk Management
From there you should see your hard drive in the left hand pane, select it and choose to 'erase' the drive. It will remove your current data and re-format the drive so that OSX can use it again.
**Don't ever format a drive until you've backed up any data you want to keep from it**