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.
bait bit bat beat bate bitt baht boat bite batt boite bitty beaut battu bawty batty beauty bawtie battue baddie bateau but bot bad bid bet batteau bawd beet bidi bide bade butt baud bout bott bota bute byte beta boot bead betta butte biddy bawdy baddy beedi biota buteo booty beady butty baaed