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.
medal medial metal modal medially meatal meddle medley modally meatily medulla medullae madly model motel metol meetly mettle moduli modulo muddly mutely mutual mutuel modioli moodily muddily mutually
pedal medal dedal daedal dal teal metal needle nodal dual nidal redial radial modal deal redly fetal dale tidal wheedle hyetal luteal setal steal audial foetal hadal ideal geoidal caudal medial dahl pedalo dial petal zooidal bedel feudal wedel chaetal hyoidal
med mead meadow meadowy meat meaty media mediae medii meed meta