PHP: rand() vs. mt_rand() – what is more accurate, what is faster?

After I was pointed out, that it would be better to use the PHP function mt_rand() instead of rand() for generating random numbers (because mt_rand() should be more accurate), I decided to investigate on that statement. But at first, where is the difference between rand() and mt_rand()?
By use of mt_rand() you can generate random numbers just like with the rand() function. The function call also looks equal on both functions. Though the PHP documentation says mt_rand() is up to 4-times faster and would be create more random/arbitrary numbers. By implication this would mean, that the rand() function creates inaccurate random numbers.
I was not aware of this problem, but after some googleing I discovered that there are a lot of people who think that mt_rand() is the better function. However I had to notice that most of the contributions which complain that rand() is not clean are a “little older”.
Often cited […]