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.
blue bluey blew bole bale bile blae boule belie belle bailie bailee blooey bullae billie blooie bailey boulle bal bel buhl bola bolo baal bowl boll bail boil bell bill bull blow blaw blah ball bawl billy bully blowy boyla below bulla bialy belay bally belly biali bylaw
blue flue value clue glue slue