$re = '/(?:([0-2]?[1-9]):([0-5][0-9])(?: ?([ap]m?))?|([0-2]?[1-9])(?: ?([ap]m?)))/i';
$str = '5am
5 pm
5:00am
4:20pm
2:20 AM
12:00 pm
12:00am
8:00
12:00
8pm
7:pm
5:00
';
preg_match_all($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