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.
bailouts ballots blots ballutes bluets bloats balatas ballets billets blats bolts belts balds blets builds bields bleats blites bloods blights boletus bullets ballads baldies belauds boletes ballades beladies bloodies blighties blitz bolds blades bleeds
bailouts glouts fallouts clouts sellouts pullouts flouts louts rollouts lots glutes ballutes lotos volutes lotas lutes maillots pelotas galloots veloutes elutes blots clots helots fluyts allots flotas floats zealots loots dilutes bluets bloats clouds ballots valutas galoots pollutes gluts galliots gloats galiots salutes flutes reallots sluts pilots moults lotus cloots plots slots solutes zlotys poults shallots