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.
baals bals bails balls balsa bawls balas bales ballsy bialys bialis baileys bailies bels bialies ballies bailees blahs bells bliss bolus bolls bulls biles blows blues bolas boils boles buhls bills blase bless bowls bolos blaws blouse belles boules belies belows boylas blowsy blousy bylaws blueys belays bluesy bellies bellows billows boulles bowless bullies bullous bilious billies boughless
aals baals als fails false lalls alas ails phials mauls vales also rails jails calls gales pawls pals veals nalas hauls hails miauls halls ales alls rials pales coals reales sials talls sheals shauls talas wheals weals dials wauls wales teals salsa cauls gals kales sales taels males dals bialis seals dahls goals quails awls bails balsa sauls nails sails duals bales dales wails pails tales shales palsy wawls palls balas galls jouals malls hales kails vials coalas bialys meals calos shoals mails halos falls balls foals bals vails bawls quillaias galas gaols koalas rales heals shawls valse peals reals sals zeals deals tails talus walls whales yawls
baal bal bail bailee bailey bailie bale ball bally bawl biali bialy