A .bin file is a MacBinary encoded file. You need Stuffit Expander or Internet Explorer 5 to decode the file so that it is usable. I'm not sure what version of Stuffit Expander and IE is even supported on (the rather ancient) OS 8.1. Check

http://www.alladinsys.com

for Stuffit Expander if you don't already have it.
Drop the .bin file on SE to open it.

Or in IE's preferences, under the Downloads option make sure the "Automatically decode MacBinary files" and "Automatically...Binhex files" options are checked.

Hope this helps...