guess that's not a common security hazard. sure, on certain PHP, apache & whatever combinations there are/were exploits that made it possible to execute evil code by a buffer overflow or something similar. But a good system admin will replace such buggy versions immediately.
the other hazard is more likely: stupid code. if someone allows to execute sql or system statements by url or in a form, then you shouldn't wonder when someone wipes out your database or harddisk.
so, generally PHP is not insecure but there are many ways to make an insecure web-application.