$re = '/.*LiveId_(\w+).*/';
$str = 'Word\\\\User MRU\\\\LiveId_7A5166EB69B271A475B25410BA565F1A63A6FD1BD8CF0F780A344EC2B287CCC1\\\\Plac‌​‌​e MRU';
$subst = "This the LiveId string: \1";
$result = preg_replace($re, $subst, $str, 1);
echo "The result of the substitution is ".$result;
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for PHP, please visit: http://php.net/manual/en/ref.pcre.php