Just replaced my belt on my 92 f150 with the 302 in it, and now the alternator is chirping. Would this mean that my alternator is fried or what?

 

Check the output, check for misallignment & the condition of the belt. Maybe pop the belt and look for drag, &/or slop in the pullys.

 

yes, the condition of my belt is in great condition, since I have just replaced it. It is almost seeming like the belt is too tight. I have tried loosening my tensionioner, but every time I try, it fails. Is there a certain trick to getting this to relieve the pressure from the belt?