I unplugged my headphones from my MacBook Pro, and a red light is in the output where my headphones would be. Now, I can't play music through my normal speakers. When I try to adjust the volume, a circle with a slanted line appears with the volume control picture.

Check your default output set-up. Go to Utilities, AUDIO MIDI setup. Make sure Sytem Ouput is set Built-In Output. You can try to play around with other settings as well.