64-bit basically is not 'faster' as such, but it allows for larger memory configurations to be recognized by the CPU. Processors without this technology can recognize only upto 4 GB of RAM. But processors with this technology can recognize upto 32 TB of memory. But note that the maximum amount of memory in a PC is limited by the motherboard chipset(where the memory controller circuit resides) and the number of memory sockets available on the motherboard.
The difference in speed of these CPUs to older CPUs is due to new technology like(but not limited to) SpeedStep in Intel and HyperTransport in AMD.