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.
bells belles bels bellows bellies bills bulls balls bolls belays belies belows ballsy bullous billows billies ballies bals boulles bullies bails bales balsa bowls baals biles bolos boles buhls blows boils blues bliss blaws bawls bolas bless balas blahs bolus bialis blousy bialys blueys bluesy boylas boules blowsy bylaws bailees baileys bailies bialies bilious bowless bullace boughless
ells knells dells jells mells tells fells shells bells yells quells sells wells cells hells els bulls callus hellos gulls villas mullas palls fellas jills lulls callas filles veals keels kills feels ceils mewls hillos peles halls folles gallus maills milles heils eels zeals hallos selles ballsy polls tallis lolls pills tels peels duels teals rills deils tolls tulles wheels chelas challas dalles chillis dels chollas cellos shiels hills taels seals sels meals paellas scillas malls peals ollas quills tellys delis dolls teles follis gills riels vills deals walls rouilles hulls cels failles quolls cullis lalls mulls sills mels fulls koels heals dulls noels boulles weals fills knolls jellos else bels reals mills helos phallus heels falls kneels fuels bills phyllos belles ghylls villus veils nulls balls rilles talls gels bolls calls nills hollas pulls galls hollos dills seels ills alls fillos hullos culls tuilles molls rolls wallas zills wills duellos wheals telos reels deles challis chiels teels tills chills niellos sheals sheols shills tailles yills
belle belly bell bellow bel billy obeli billowy abele billow bullae below bull boll bill ball billie bulla belie bully belay abelia bally obelia