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.
ballon balloon ballonne billon bullion billion baloney belon blown bouillon baleen boloney blin blain blawn blini blenny byline beeline bowline
billon ballon bouillon gallon talon pollen solon nylon reloan melon pillion lown mullen violone gluon lion loan saloon chalone colon aloin loon cullion felon lone loin eloin flown hellion callan clone zillion colone bullion solion pelon sullen million salon galloon pleon colony mullion jillion lallan galleon blown woollen pylon talion coloni balloon fallen clown alone clon halon billion phylon belon felony shalloon
ball bally bal bullae bull billy billow bill baal bail bailee bailey bailie bale bawl bialy bell billie belle billowy bellow boll belly bulla biali bully