What’s the best way to generate a cryptographically secure token?

1150480 pts.
Tags:
Authentication
Security
Security tokens
In order to generate a 32 character token for access to our API, we've been using this:
$token = md5(uniqid(mt_rand(), true));
But someone told us that this isn't the best way to secure it and that we should use this instead:
openssl_random_pseudo_bytes
What's the best way here? Thanks for the help.
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