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.
milky milk mullocky mullock maiolica
milky silky ilk alky chalky balky tilak baulky talcky bilk fluky silk laky flaky bulky folky hulky ilka colicky milk rollicky sulky talky whelky yolky
mil mail maile maill mile milia milieu mill mille milo moil smile smiley