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.
bout but bot bought boot bott butt bota bute boat biota beaut butte booty boite butty buteo bootie bootee beauty bet bud bit bat bod boughed bate bitt beet baht body bode beta batt bait beat bite baud bedu byte battu batty bawty betta bitty boody booed buddy
bout gout lout knout out pout rout tout shout ut