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.
blade ballade blate belaud bolide ballad belady bled bald blat blet bold bullate blite bluet bield blood baldy baled bleed bleat build bloat blued bullet boiled bowled bolled boleti belled bawled balata ballet balled billed belied billet bloody bolete bailed bulled ballute bellied bullied belt blot bolt
lade glade blade oeillade roulade ballade clade lad oldie collide lead plate fellate plead late reload malate colead gallate lude lode iliad folate belaud yclad bolide laid chiliad chelate tuladi dildoe delude payload glady mildew phyllode miladi velate elide malady milady clad load collude bullate elude collate elate laud killdee vallate alate glad slate gelate allude relate hollaed belady solate glide plaid glede quaalude gelada salad delate relaid ballad lady halide blate palate slide illude dealate violate delead dilate tilde waylaid childe cholate
belay blae blah blaw bola bylaw