^^
If you have DIS (distributorless ignition system), this doesn't apply to you.
You need a timing light, rathet + socket + extension, and a paperclip or short piece of wire with the insulation stripped off both ends.
1. Start the engine.
2. Apply ebrake and put tranny in neutral.
3. Jumper pins TE1 & E1 on the diagnostic connector (its in the engine bay near the drivers side strut tower).
4. Hookup the timing light to the #1 spark plug wire.
5. Point the timing light at the crank pulley and pull the trigger. Timing light has strobe light bulb in it, so it freezes motion for a split second. Anyways there a notch on the crank pulley that'll line up to a marking on the lower timing belt cover (right behind the crank pulley). The marking has some numbers on it.
Lets say the notch on the crank pulley lines up to "10". This means the base ignition timing is 10 degrees BTDC (before top dead center).
Stock/factory setting is 10 degrees BTDC.
6. Loosen up the 2 bolts on the distributor and turn the distributor up or down. You only need to move it a little bit. Check the timing.
Anything more then 10 degrees means your timing is advanced. If its at 15, that means the timing is advanced 5 degrees from factory setting (10 degrees BTDC).
And anything less then 10 degrees means your timing is retarded.
After your happy with the setting, tighten down the 2 bolts on the distributor and check the timing again.
Disclaimer: If you don't understand what I said above, its best you not mess with it. I will not be responsible if your engine pings to death.
So if your shit blows up as a result of messing with the ignition timing, its your fault.