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.
bills billows billies bails bells bulls bolls balls biles boils bialis ballsy bialys belles bullous bailees bellies baileys bialies bels bals ballies boulles bellows bailies bullies bilious bolos bales bolus balsa blase buhls blaws bowls bolas balas blues boles bliss baals bless blahs blows bawls blouse bluesy boylas belies boules blueys belows belays blousy blowsy bylaws bowless bullace boughless
bills fills shills ills vills hills sills kills jills chills rills yills maills dills gills tills pills mills wills nills quills zills niellos pulls filos hollos gulls vails phallus galls hellos bells lolls duellos hollas coils mells fells biles fillos ells reoils nils bolls soils phials mailes dials ballsy piles knells rilles rouilles riels sails palls kails balls hillos veils pilus deils tuilles diols wails cells silos walls miles villus challis chiles ceils chillis chollas shells mils tiles yells toils tils tailles knolls gallus scillas pails lulls sells phyllos villas tells mulls failles guiles voiles malls alls nulls follis lalls oils ails vials fails ceilis pilis hells nails jells rails rials bulls hilus dulls files calls poilus quells boils quolls paellas quails whiles hulls hails heils fils ghylls culls jails callas callus milles filles polls mullas falls kilos hullos moils hallos tellys roils fellas rolls milos fulls halls riles folles cullis toiles talls belles dalles lilos molls noils bails foils tallis challas boulles viols selles wallas dells cellos wells wiles tails chiels dolls tulles mails chilis jellos sheilas shiels tolls sials ollas
billie billow bill billy billowy bailey bully bailie bulla ball boll belly bell bally bailee bellow bile bail boil belle bull biali bullae bialy bible