No doubt PHP is a strong language and it gain power during its evaluation.But there are too much security risks in PHP.Most common are :
1-Invalidated Input Errors
2-Access Control Flaws
3-Session ID Protection
4-Cross Site Scripting (XSS) Attacks
5-SQL Injection Vulnerabilities
6-Error Reporting
7-Data Handling Errors
8-PHP configuration settings
As PHP is open-sourse server-side scripting language, it is most often uses in web applications and database-driven web site which obviously have critical data.So malicious users always try to find holes in its security, in other word this open-source is in focus of attackers.Thus it becomes the responsiblity of developer to minimize the securiy risks in product.