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The recalls (possibly more than 1) could be for turn signal bulbs/sockets, ignition switch, headlight switch, or possibly a couple other minor issues. If you take the car to a Volvo dealer, they'll run the cars VIN on what's called DCS which will tell them what (if any) open recalls might still exist for your car. They could also tell you that over the phone too but if anything needs to be done, they'll need to have the car there. Any of those recalls are simple and usually only take minutes to do.
As for your bulb warning light, a bulb or two is failing and needs to be replaced.
As for ABS, the '98 X70s have known ABS control unit problems and it's likely that you'll need a new control unit. When it fails, the ABS and tracks lights come on but it doesn't usually cause noise. When ABS functions normally on slippery roads, it will make a growling noise too so perhaps that's what you're hearing when it's working? If you're seeing those ABS/tracks light on, you should first have codes read to see what's been stored. If it has stored codes for rear wheel sensors (usually RR) and or "pump motor failure", the control unit is NG and needs to be replaced.
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