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.
baileys bailees bailies biles bales bails blueys bialys bals billies bialies ballies balsa bless baals boils blues bawls balas boles balls bills bluesy bialis belays belles ballsy boules belies bowless bilious bellies billows boulles bullies bels blahs boughless blows bowls bulls bliss blaze bolos bolus blaws bolas bolls buhls blase bells boylas blouse blousy blowzy blowsy belows bylaws bellows bullace bullous
baileys leys riles pileus mulleys mooleys miles guiles biles lilies alleys galleys bailees bailies bialys rouilles doilies tailles toiles whiles chiles volleys blueys failles valleys pulleys piles muleys milles mailes gleys files gulleys ileus voiles foleys fleys filles rilles dailies doyleys tiles tuilles wiles chilies les
bailee bailey bail bale bile bailie bible bal