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.
ballets billets bullets ballots blets ballades ballutes bluets bleats baldies boletus balatas ballads boletes bailouts belts bolts blats blots balds blites blades bloats bleeds bolides blights beladies bloodies bulldoze blighties blitz bolds bields bloods builds belauds
ballets willets gullets mullets billets quillets fillets gallets pallets mallets pellets sallets rillets pullets millets collets wallets cullets bullets callets lets maillots galletas boletes piolets relets allots bluets violets culets filets fleets blets chalets reallots valets cleats boletus sleets howlets tallits owlets pleats ballots lilts leets deletes bleats palets muletas toilets gleets shallots
balled ballet bailed baled ballad ballade ballot ballute bawled belled billed billet bolled bulled bullet