You want to format the drive using Fat32, which is most readable. I'm not sure about the Mac procedure, but to format the drive in Windows you right click on it in (My) Computer and select "Format..." Set the file system to Fat32 (it should be the default, but you should make sure). Also make sure that "Quick Format" is UNselected, as it does not erase the data. Then click OK and it will start formatting the drive. It will warn you, but I'm going to reiterate (preiterate?) DO NOT REMOVE THE DRIVE AT THIS TIME. Also be aware that this will remove all the files, though not necessarily securely.
Also, depending on the sensivitity of the information and the people you are afraid might read it, you might want to do further erasing procedures. I know that the Mac allows you to delete files securely. You need to do this BEFORE reformatting the drive, or there will be no files to erase securely.