Atomicorp has released PHP 5.3.8 packages for CentOS in their Atomic Testing repository

The PHP development team would like to announce the immediate availability of PHP 5.3.8. This release fixes two issues introduced in the PHP 5.3.7 release:

Fixed bug #55439 (crypt() returns only the salt for MD5)
Reverted a change in timeout handling restoring PHP 5.3.6 behavior, which caused mysqlnd SSL connections to hang (Bug #55283).
All PHP users should note that the PHP 5.2 series is NOT supported anymore. All users are strongly encouraged to upgrade to PHP 5.3.8.

To configure the Atomic yum repository under CentOS run:

wget -q -O - http://www.atomicorp.com/installers/atomic | sh