While was looking for a captcha class for PHP, I found securimage. It's great but not very strong "out of the box".
With some modifications, I came up with a very strong way to create captcha directly with PHP. It use a variety of fonts, backgrounds and a dictionnary of words from a random book on Gutenberg. To make sure the captcha is readable, a function calculate the luminosity difference between the text and 2 colors in the background.