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.
hobbit howbeit habit hobbed habitue hoboed
hobbit rabbit bit qubit subito gobbet sabbat cubiti rabbity obit cubit rabbet niobite habit gibbet bait ebbet babbitt abbot bitt bite howbeit rebait sobeit debit