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.
bels bells belows belles belies belays bals bellows bellies bulls bills blows biles balsa bales bliss balls bolas bolus blues bolls blahs bowls bless bolos bawls buhls baals balas blaws boles bails boils ballsy boylas blueys boules blowsy bialys blousy bylaws bialis bluesy bullous billows bullies billies boulles bialies bailies ballies bilious bailees bowless baileys boughless blase blaze
bels keels chiels tels taels dels seels els feels fuels heels gels eels mels koels kneels noels peels reels riels cels sels duels teels wheels shiels
bel belay belie bell belle bellow belly below