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.
blotto blotty blot bloat blood bloody ballot bailout belt bolt blat blet blite bluet built blate bleat balata ballet billet blight bolete boleti bullet ballute blighty bullate
lotto blotto lotte blotty calotte clotty culotte molto mulatto plotty
below blooey blooie blow blowy bolo