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.
lite lit late lute lied litu laity lutea lotte latte litai laddie lyttae let led lot lid lat lode lido lewd latu lude lade loid lout loti laid lati leet lead leud lota loot leady looed lotah lotto lytta wyled
bite write white dite suite site cite rite boite nite mite lite quite kite gite wite it