A couple of things:
- Try it, benchmark several approaches, and see which one is the faster
- Consider using objects
- Do think about DB's at least... it could be a NoSQL key->value storage thing like Redis.io (which is dead-fast)
- Search algorithms, sure there are plenty of them around
But storing an assoc array of 2M keys in memory will mean you'll have tons of hash collisions, which will slow you down anyway. Sort the array, chunk it, and apply a decent search algorithm and you might get it to work reasonably fast, but to be brutally honest, I would say you're about to make a bad decision.
Also consider this: PHP is stateless by design, each time your script runs, the data has to be loaded into memory again (for each request if it's a web application you're writing). It's not unlikely that that will be a bigger bottleneck than a brute-force search on a HashTable will ever be.
The quickest way to find this out is to run a test, once with APC (or alternatives) turned off, and then again, but cache the array you want to search first. Measure the difference between the two, and you'll get an idea of how much the actual construction of the array is costing you