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.
bails bals bailees baileys bailies balls bawls bills balsa boils baals balas bales biles ballsy bialys bialis billows bialies billies ballies bels bilious blues bolls bells blahs bulls bolas bowls blase blows bolus buhls boles blaws bliss bolos bless belays boylas boules belies blueys belows blouse bluesy belles blowsy blousy bylaws bellies bellows boulles bowless bullies bullous boughless
bails tails wails vails pails nails kails rails jails mails quails fails hails sails ails als jouals kales nills ills files fils cauls boils aals lalls veils heils foils riles mills kilos gills ales jills coils liaise calls dials hales vales hauls halos palls tills reals bills sills dahls veals riels palsy palais hills tales nalas mils galas zills sauls wawls teals talas soils wills chiles deals chills shauls taels sheals toiles shiels shoals yawls walls milos malaise gales talls peals lilos calos quills pales dales whiles moils whales gals biles galls diols meals pilis gaols sals bales pawls falls miauls pilus males duals maills noils awls baals talus fills toils coalas alas filos rills zeals halls coals roils reales hilus false vills malls quillaias oils guiles kills bialys bawls nils goals balas phials poilus quillais miles viols koalas reoils silos mauls bialis piles heals also ceilis mailes vials pills wiles balls alls bals balsa rales voiles foals valse pals seals wheals wales dals wauls dills rials weals sales tils deils chiels salsa chilis shales shawls tiles sheilas ceils shills sials yills
bail bailey bailie bailee bal bile boil bawl billowy baal bale bill biali ball billie billow bialy billy bally bible