Recently I have a problem, the hand brake light (circle with "!" inside) occasionaly turnes on and off while I'm driving! I don't experiance any differences in running while it's on, but it worries me a little bit. Also, I have to mention my hand brake is not in the best shape anyway.
Anyone know what that could be?

oh, yes, I forgot

Fiat Tipo 1.4 ie 12/92

Could be the handbrake switch, trying pressing it up and down and seeing if it goes on and off as required.

The hand brake light is also, as ALL motorists should know, the brake fluid warning light. It flashes on and off as the fluid moves around hence the float does in the reservoir. I wouldn't drive the car until you find out what's up, if your break fluid is low, you need to ask yourself why.

Etc.

Check your brake fluid resevoir has enough brake fluid in it,if light still comes on after this yo uneed to check for a short in the single wire going to the handbrake itself.Personally the fact you mention it happens when driving suspects me to think brake fluid is low,if it is also check your front disc pad for wear.

Or, if your break fluid is fine, and the switch is functioning, simply unplug the bulb, like I did!

I had this happen to me once, I'm not sure if its the same on all Tipos but The Clutch is Hydraulic not cabled.

your clucth my be sufferin from low Hydraulic pressure in which case one day it will close and drive you until you hit something or stall, when the pressure dies you will no longer be able to change gear and will be stuck in whatever gear you ended in

Had to get towed

Yeah, same with me a while ago. Slowly losing fluid from the reservoir, thought it was brake system leak, then (leaking) clutch slave cylinder seal finally let go completely. Result... undriveable car.