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.
pencel pencil penicil pensil penicillia pensile
cancel pencel chancel nicely hansel conceal council counsel gunsel pencil donzel tinsel
pence pennis spence peens peins penes penis pennies peans pensee pens peones peonies peons ponce openness opens spense