Time Comparison Easier Than I'm Making them

I've got an application which uses the format yyyy-mm-dd hh:mm:ss for its
timestamping. I'm trying to determine if the time a record was created was 5 or
more minutes before the time the script runs. Using DateTime->now I get a
timestamp of yyyy-mm-ddThh:mm:ss. I have no clue what the 'T' represents.

All I'm trying to do is take the hh:mm:ss portion of each timestamp and find the
difference yet I'm pulling my hair out trying to find the solution. Can someone
please just point me to what I can use? I'll figure it out from there.

Thanks
Mathew
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