Higher mileage cars can develop creaking and groaning noises in the front suspension, particularly when coming to a quick stop. Inspection and replacement of any worn parts should correct this concern.
Car problem reports
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Most reported 1994 Lexus LS400 problems
Power steering "growling", leaks around P/S pump and white smoke when car is first started in morning.
If your power steering pump is making noises or leaking, get it fixed ASAP or you will likely be replacing your alternator too. The alternator is located right below the P/S pump and if fluid drips into it it will short out the alternator, this has been occured many times.
Also, if you get a puff of white smoke in the morning it may be a bad speed sensitive steering solenoid, which screws into the power steering pump and has a vacuum line ...