IT's a WhaT?!

PHP is short for Hypertext Preprocessor.

PHP is a widely use scripting language that was originally designed for web development to produce dynamic web pages. For this purpose, PHP code is embedded into the HTML source document and interpreted by a web server with a PHP processor module, which generates the web page document.

As a general-purpose programming language, PHP code is processed by an interpreter application in command-line mode performing desired operating system operations and producing program output on its standard output channel.

PHP was originally created by Rasmus Lerdorf in 1995 and has been in continuous development ever since. The main implementation of PHP is now produced by The PHP Group and serves as the de facto standard for PHP as there is no formal specification.

PHP originally stood for personal home page. It began in 1994 as a set of Common Gateway Interface (CGI) binaries written in the C programming language by the Danish/Greenlandic programmer Rasmus Lerdorf. Lerdorf initially created these Personal Home Page Tools to replace a small set of Perl scripts he had been using to maintain his personal homepage. The tools were used to perform tasks such as displaying his résumé and recording how much traffic his page was receiving.

Lerdorf released PHP publicly on June 8, 1995, to accelerate bug location and improve the code. This release was named PHP version 2 and already had the basic functionality that PHP has today. This included Perl-like variables, form handling, and the ability to embed HTML. The syntax was similar to Perl but was more limited, simpler, and less consistent.
Zeev Suraski and Andi Gutmans, two Israeli developers at the Technion IIT, rewrote the parser in 1997 and formed the base of PHP 3, changing the language's name to the recursive initialism PHP: Hypertext Preprocessor. The development team officially released PHP/FI 2 in November 1997 after months of beta testing. Afterwards, public testing of PHP 3 began, and the official launch came in June 1998. Suraski and Gutmans then started a new rewrite of PHP's core, producing the Zend Engine in 1999. They also founded Zend Technologies in Ramat Gan, Israel.
On May 22, 2000, PHP 4, powered by the Zend Engine 1.0, was released. As of August 2008 this branch is up to version 4.4.9. PHP 4 is no longer under development nor will any security updates be released.

On July 13, 2004, PHP 5 was released, powered by the new Zend Engine II. PHP 5 included new features such as improved support for object-oriented programming, the PHP Data Objects extension (which defines a lightweight and consistent interface for accessing databases), and numerous performance enhancements. In 2008 PHP 5 became the only stable version under development. Late static binding has been missing from PHP and has been added in version 5.3.

PHP 6 is under development alongside PHP 5. Major changes include the removal of register_globals, magic quotes, and safe mode. The reason for the removals was that register_globals had given way to security holes, and magic quotes had an unpredictable nature, and was best avoided. Instead, to escape characters, magic quotes may be substituted with the addslashes  function, or more appropriately an escape mechanism specific to the database vendor itself like mysql_real_escape_string  for MySQL. Functions that will be removed in PHP 6 have been deprecated in PHP 5.3 and will produce a warning if used.