Interfaces allow you to create code which defines the methods of classes that implement it. You cannot however add any code to those methods.
Abstract classes allow you to do the same thing, along with adding code to the method.
Now if you can achieve the same goal with abstract classes, why do we even need the concept of interfaces?
I've been told that it has to do with OO theory from C++ to Java, which is what PHP's OO stuff is based on. Is the concept useful in Java but not in PHP? Is it just a way to keep from having placeholders littered in the abstract class? Am I missing something?