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.
milady malady miladi mild mildewy moldy milty milled moiled melody mildew mailed mouldy miauled meld milt mold malty mould melty muled mewled malate meloid mauled millet melled malled muleta mulled maillot maleate melodia mulatto
lady glady belady milady malady lad tuladi ballade ballad hollaed payload yclad relaid slaty melody oeillade colead platy glad reload salad delead waylaid wieldy blade welladay clade baldy moldy miladi load laid mouldy gelada plaid laud glade roulade clad oldy lade lead leady belaud plead iliad chiliad
mil mail maile maill miaul mile milia milieu mill mille milo moil mola smile smiley