<?php

function create_hash($password)
{
    // format: algorithm:iterations:salt:hash
    $salt = base64_encode(mcrypt_create_iv(PBKDF2_SALT_BYTE_SIZE, MCRYPT_DEV_URANDOM));
    return  $salt . " : " .
        base64_encode(pbkdf2(
            PBKDF2_HASH_ALGORITHM,
            $password,
            $salt,
            1000,
            24,
            true
        ));
}
// where $password is a user supplied data.