PhD = philosophiae doctor; DPhil = doctor of philosophy. Both abbreviations are therefore equivalent in their meanings, and also in the degree for which they stand. Traditionally, many UK universities have called their doctoral degrees DPhil, while today most have adopted the US abbreviation PhD (except for Oxford and Sussex, as far as I'm aware). The MPhil degree still reminds of that time. In the US, there has traditionally been a preference for pseudo-Latin (and therefore "reversed") abbreviations, see AB, AM, PhD.