The installer will list the php.ini being used by PHP. The php.ini file contains the directives and settings for your instance of the PHP module for Apache. Editting it allows you to customize, streamline, and/or enable necessary settings for your webserver.
A good place to start looking for the particulars:
http://us2.php.net/manual/en/ini.php
For your particular problem, run the installer to the point where it tells you where to find your php.ini file (I forget the exact step, but it happens early).
Open that file with a text editor. OSX's TextEdit (in /Applications) works just fine. If you do *not* get prompted with a "Enter your User/Password" dialogue box, there is a chance that you will not be able to save your changes.
Once you have it opened, follow my previous post (which you quoted here) and add/edit the session.save_path directive. Save & close.
To restart apache, depending on how you installed it (via DevTools or some 3rd party), the exact method may vary. How did you get apache/php in there?
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