BEIJING - The absolute slimmest of margins - 0.01 seconds - kept Michael Phelps' dream of eight gold medals alive and kept Ian Crocker from winning a bronze medal.

Phelps beat Milorad Cavic of Serbia to the wall to win the 100-meter butterfly Friday, tying Mark Spitz's record of seven gold medals at a single Olympics.
With his arms fully outstretched, the American touched in 50.58 seconds, brreaking Cavic's Olympic record of 50.76 set in the semifinals.

Cavic, who was still in mid-stroke at the wall, took the silver in 50.59. Andrew Lauterstein of Australia earned the bronze in 51.12, and right behind him was Crocker, whose time was 51.13.