$re = '/(((0[1-9])|[^0]\d):)?[0-5]\d:[0-5]\d$/m';
$str = '04:05
50:20
00:59
00:60
88:40
00:02:03
01:02:03
88:00:50
00:00:45
02:77:35
00:04:80';
preg_match_all($re, $str, $matches, PREG_SET_ORDER, 0);
// Print the entire match result
var_dump($matches);
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for PHP, please visit: http://php.net/manual/en/ref.pcre.php