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.
bullet ballet billet bulled blet bullied bullate built bleat bluet ballot belled bolled boleti balled billed bolete bellied ballute ballade bolt belt bled blot blat bloat blite baled bleed blade blate blued build bawled bailed balata belied bowled blight ballad blotto boiled bolide blotty bailout blighty
billet mullet pallet gullet ballet callet sallet quillet gallet willet cullet bullet wallet collet rillet millet pellet fillet pullet mallet let lulled fleet balled fuelled piolet gelled relet bolled muleta galleta hilled filled milled belled mulled gleet cleat called violet walled knolled leet dialled shilled shallot challot woolled willed celled palet tolled tilled dulled dolled felled boleti owlet ballot malled vialled culet reallot bluet valet galled killed bulled rolled polled culled melled nilled hallot gulled quilled bolete quelled nulled allot gilled billed fulled filet blet bleat rilled lilt jelled sleet delete pulled knelled palled hulled pilled lalled maillot lolled howlet dilled helled duelled tallit toilet welled pleat chalet chilled shelled yelled
bull bully bullae bulla boll bally billow billie buhl boulle boule billowy billy ball bill belly bellow belle bell abulia