You are looking at the HTML representation of the XML format.
HTML is good for debugging, but is unsuitable for application use.
Specify the format parameter to change the output format.
To see the non HTML representation of the XML format, set format=xml.
See the complete documentation, or API help for more information. 
<?xml version="1.0"?>
<api>
  <query-continue>
    <allpages apcontinue="Custom_Modules" />
  </query-continue>
  <query>
    <allpages>
      <p pageid="95" ns="0" title="BizCN Configuration" />
      <p pageid="41" ns="0" title="CPanel Specific Configuration" />
      <p pageid="54" ns="0" title="CPanel with WHMSonic" />
      <p pageid="81" ns="0" title="Cast Control Specific Configuration" />
      <p pageid="71" ns="0" title="CentovaCast Specific Configuration" />
      <p pageid="61" ns="0" title="Change Database Collation" />
      <p pageid="70" ns="0" title="Cloudmin Specific Configuration" />
      <p pageid="56" ns="0" title="Cron Jobs Tips" />
      <p pageid="16" ns="0" title="Current events" />
      <p pageid="66" ns="0" title="Custom Fields" />
    </allpages>
  </query>
</api>