Basic Questions

i have a server with MSDE installed that a database application uses. I have just inherited this to look after and i see a few things that look suspicious. First the database is under 300megs, which is fine. But the LDF file associated with the database is 16gigs. I want to trim this file size down but can't seem to find any tools to accomplish this. Should i be concerned about the size of the ldf file? Is there a way to reduce its size? Should i just leave it alone.
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