$str_time = "23:12:95";
$str_time = preg_replace("/^([\d]{1,2})\:([\d]{2})$/", "00:$1:$2", $str_time);
sscanf($str_time, "%d:%d:%d", $hours, $minutes, $seconds);
$time_seconds = $hours * 3600 + $minutes * 60 + $seconds;
And if you don't want to use regular expressions:
$str_time = "2:50";
sscanf($str_time, "%d:%d:%d", $hours, $minutes, $seconds);
$time_seconds = isset($seconds) ? $hours * 3600 + $minutes * 60 + $seconds : $hours * 60 + $minutes;