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.
bailout ballot blot ballute built bluet bloat ballet blotty billet bailed blotto balata blat bolt belt blet bald blate build bield bleat blite baldy baled blued blood balled bolete boiled bloody blight billed belaud bawled ballad bullet ballade blighty bullate
bailout lout fallout flout veloute clout glout maillot pilot pullout rollout sellout dilute lot
bail bailee bailey bailie billow billowy bal