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.
faulty fault vaulty fealty vault fauld fluty flutey flauta floaty fallout flit flat felt flute flyte float flout flite fleet filet fluyt valet fouled fulled fueled valuta folate foaled fillet failed fellate filiate foliate fuelled vallate valuate velleity
faulty vaulty cult culti gault guilt guilty quality culet mouldy melty nullity polity reality salty silty slutty duality lealty jolty jollity milty fluty flutey fealty fault built kilty vault malty quilt moult platy poult realty sault slaty zloty shelty
fail faille fall fallow feal foal foul foully fuel full fully