You shouldn't have any problems. If you also want MySQL, you need to run it as a service, which also shouldn't be a problem.
Read my explanation to Kenneth C on how to install PHP and Apache in Windows. The thread is 'on my way to coding'. His name is KennethC and my name is Norman Graham. I wrote a long list of instructions which apply to any Windows OS. You may have to make adjustments, but that is true whether you are running Win95 or WinXP.
Best of luck
Norman