My Ranger has a differential fill plug, but no drain plug. The fill plug has tapered threads. When I got it off, the red factory sealant was still in the threads. After changing diff fluid, I just reinstalled the plug as it was without tape or sealant, but made sure it was as tight as it had been before breaking it loose. Believe me, it had been tight.
The reasoning for using nothing on the threads was that the sealant remnants would be enough and the fill plug is not normally bathed in oil on its inside surface as an engine oil pan drain plug would be. If the diff had had a drain plug, I would have used something on the threads, probably Teflon tape.