I've taken a list of English words, and examined each of them to see what they sound like (using the PHP metaphone function). This page lists the most common metaphone codes, along with their words. You can also search for a word of your own, and see which words sound similar - and which ones rhyme, and which ones alliterate.
bilious bialis blousy blouse billows bullous billies bailies bialies bliss bolos biles boils blows blues bills bolus bails belies bluesy boules belows bialys blowsy blueys bellows bullies bellies ballies boulles bailees baileys bals bels bulls buhls bales blase bells bolas bowls balas balsa bolls bless balls blahs blaws boles baals bawls boughless ballsy belays belles blowzy boylas bylaws bowless
bilious folious delouse polios pileous milieus gallous jealousy jealous helios villous foliose folios bullous blousy blouse lousy louse louis lieus callous lilos olios pilous zealous chylous lis
bailie biali billie billow billowy