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.
biles baileys billies bialies bailees bailies blues boles bales boils bails bills bless bluesy boules bialys belies bialis belles blueys boulles bellies ballies bilious bowless billows bals bels bullies blaws buhls bowls balas balls bulls bliss bawls blahs bells balsa blaze bolus blase bolos bolas baals bolls blows boughless blouse blowsy belows ballsy blousy belays boylas bylaws bellows bullace bullous
files toiles piles biles mailes wiles guiles tiles whiles voiles riles miles chiles les boules jawless goalless billies clews hoyles lollies milos hilloes peles boulles bellies bails hilus males gullies phials bailees valleys baileys queleas follies soilless mules folles kayles lilies awless kellies gallies foils rules riels flews oles goalies feeless helloes haloes hills mollies mooleys callees maills haoles rilles mallees rallies nellies quails vills kails leas holes gelees bialies plies nails vials coulees viols kales kilos ills noils ceilis dials reoils bowless pules moils viewless gills nills doolies wales wheelies foleys sills slues melees wellies tulles tales toils milieus pileus soleus teles tieless tuilles quills doilies tailless yills shales chills chilis halloes challies rouilles muhlies shoeless shiels dills tills selles wills rails woollies dollies sullies pills soils dailies holloes caules mailless galleys oleos malleus oils jollies holies mealies toeless dellies ails toolless allees slews galeas polies dalles heils wallies sailless lues mils aloes heelless vails reales clues jails joyless jills leis bless voles pleas leys moles ballies glees dillies sails alleys sillies killies pilis mealless bullies flues fleas rials vales veils ileus poleis hails rills soulless lees relies keyless silos bales cullies deils filles wyles glues poilus flees boughless rayless volleys looies floes fleys calesa mails ales keelless joules muleys flies filos failles hollies louies fils fillies bailies fellies boles lieus belies lawless jellies gleys gules kills gulleys roils coleus lies sales fills less felloes ghoulies milles mills coalless pales plews doylies pails hueless collies sloes rales blues nils gillies belles coils zills ghillies wheelless bills joles allies pollees fails dales coles boils deles hales coolies dallies hulloes walies values tailles pulleys vowless colies tallies molies woolies poles wholes roles doyleys gales pilus ceils tules toyless mulleys doolees diols sallies wayless tils chiels soles whales tails dewless willies lilos tellies doles shills sials toles wails chalehs chilies chillies chyles sheilas yules
bile billie able boil blue blew blae billy billowy billow bill bail bialy biali bale bailie bailey bailee bluey bole bible