If it's a matter of parsing date strings supplied by the database then you don't really need the full strtotime() carry-on: if you know the format then it's just a matter of string processing to turn it into a set of variables (or an array) containing the year, month, day, hour, minute and second. PEAR's Date() package provides a bunch of methods for working with such dates.
I've been known to store dates and times using astronomers' conventions (who have a particular interest in being able to specify times sometimes thousands of years ago with resolutions on the order of a second). (Fractional) Julian Days represent the time as days and fractions of a day since an epoch of 12:00:00 UTC, 24 November 4713 BC (Julian (proleptic) calendar). As I write this it's 2005-01-20 07:57:56 UTC, which translates to a JD of 2453390.83191, which fits into a double-precision floating point number with a roundoff error of less than a second.
PHP offers Julian days in its calendar extension, but not the fractional parts.