Dear Derrick,
This is a question that scientist have long been pondering. Water is essential for life to exist, so a planet needs to be at a distance from its star that will allow it to have water, so it can't be too close or too far. The Earth seems to be at a very lucky distance to support all types of life, from the very simple forms (bacteria) to the very complex (us!). Planets that are located at a similar distance from their star (if their star is like the Sun) as the Earth is from the Sun will probably have a better chance of containing life. Planets at a distance similar to the orbit of Mars may also sustain some sort of life. I hope we will be able to determine whether there is other life in the Universe during my lifetime!
Holly