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.
buhls bulls boules boughless bullous bals bullies bels boulles bawls bills bolas bales bless blaws bolls bowls blase baals bolus bolos bails boles bliss blues blahs balls balas boils biles balsa bells blows belies blouse blowsy blousy bialys bialis ballsy boylas bluesy belays bylaws belows belles blueys baileys bellies billows bailees bilious billies bellows bullace bialies bowless ballies bailies
buhls hauls bulls fouls coulis fulls ghouls fuels puls souls rules dahls pulis nulls duals mules dulls mauls tules lulls wauls gules shuls guls boules hulas pules caulis caules cauls jouals hulls joules pulls sauls pulse sulus mulls hols doulas miauls duels lulus dulse kohls ulus culls shauls gulls yules
buhl boule boulle bull bulla bullae bully abulia