How does the Bible explain the existence of fossils that are millions of years old? People have been finding fossils for many years. Millions of fossils fill museums and storage vaults around the world, and we've yet to find a single one of a human. This suggests that the animals and plants that became fossilised are from a much earlier time than humans ever existed in. 

How does creationism (and the timeline and events of the bible) explain the existence of fossils?
2nd Peter 3:8 KJV reads: 


  But, beloved, be not ignorant of this one thing, that one day is with
  the Lord as a thousand years, and a thousand years as one day.


This is Peter writing to address the questions saying "Where is the Lord?  He said he would return soon!"

Matthew 13:13 KJV reads:


  Therefore speak I to them in parables: because they seeing see not;
  and hearing they hear not, neither do they understand.


Genesis 1:5 KJV reads (emphasis mine):


  And God called the light Day, and the darkness he called Night. And
  the evening and the morning were the first day.


Every man understands what a day is.  It's possible God revealed this using these words so that even the unlearned (us) could understand the basic ideas of his word throughout the ages.

God speaks in parables and metaphors (thanks, Anthony!) because as mortal beings, we are stuck in our own little frames of reference.  I don't know exactly what it takes to build a planet from nothing, but from what I've learned in my life it would take a lot of matter, a lot of pressure, and a lot of time.

It could very well have taken billions of years, we don't know.  As they say, God works in mysterious ways.