I was told my 95 4-Runner needs MaxLife or similar oil instead of conventional oil I have been using because I have over 120,000 miles. What oil should I be using?
Use conventional oil unless you have significant oil consumption or loss between oil changes.
Maxx life is really a band-aid for these problems.
Normally I would say check the owner’s manual and feed it accordingly unless there is some sort of problem. Somehow I suspect you no longer have that owner’s manual. 
You need an oil that meets or exceeds the specifications in that manual. Unless … Does it show any oil related issues? If no keep on doing as you have been.
Nothing new from me… continue using the conventional oil until you suspect a problem of some sort.
All tastes the same to me. Find your viscosity on sale, and buy a bunch of it. Max Life quit using molybdenum in their oils some years ago, so I suspect its just marketing hoopla now.