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.
balls ballsy bals ballies baals bales bolls bills balsa bulls balas bells bails bawls bialys belles bialis bels billies bialies billows bailees bullies bullous boulles bailies bellows bellies baileys boles boils bolos bowls buhls bless biles bolus bliss blows blaws blase blahs bolas blues blueys belows bluesy belays belies boylas blouse blowsy blousy boules bylaws bilious bowless bullace boughless
alls palls malls falls balls lalls talls walls halls galls calls als mauls bialis awls gulls also vales callus aals coals balsa callas jells jills bails cells bulls ales cullis gills molls hillos vials hallos dolls hollos boulles baals nails cauls fillos niellos failles kails hullos fellas deals jellos phyllos jails tellys goals dials knells phials ells tails false nalas bales nulls tulles wales rilles rolls jouals taels pulls wells wheals challas duellos pawls chillis chollas shauls zeals sheals teals shills sials yells tolls sells reals maills cellos tales fells folles phallus hulls sals dahls mulls wawls ails pals lolls bawls bells ills quells heals alas belles lulls sauls seals quails selles follis hells valse mails nills reales mells hills filles meals pails dalles paellas bialys gaols veals tills quills bals villas hauls gals talus rouilles tailles fails hellos vails fulls hales bolls quolls hollas males coalas dells miauls pales kills fills rales culls halos vills calos sails pills bills rills balas ollas peals sills galas mills kales ghylls villus polls ballsy weals gales dales gallus mullas knolls milles hails dals foals rials salsa rails dulls zills koalas wails palsy wallas scillas dills wauls sales duals whales wills tuilles challis talas chills shales shawls tallis shells tells shoals yawls yills
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