PHPDoc, like what you've posted, is a widely accepted form of PHP documentation.
You can use Doxygen to auto-generate the docs.
Edit: In terms of generating in-line documentation in your code, I have never come across a tool that will go back and do this externally for a project. It's generally left in the realm of the IDE to generate a template while you code.
Eclipse actually does a decent job of this (it's one of the few things I like about Eclipse) and I believe Netbeans does as well. Any major IDE will likely have functionality to assist with this type of template generation.
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