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.
mouldy moldy mould mold muled moult malady mauled mulled melody milady moiled mildewy miauled mild meld molt melty molto milty malty miladi malled muleta melled milled mailed mildew meloid mewled mullet melodia mulatto mullite
mouldy fouled should would wauled ruled oldy hauled moldy miauled mauled baldy belady build fauld faulty auld lady milady shauled wieldy souled puled muled mould melody vaulty malady guild glady could cloudy cauld yauld
mol molly mulley mulla muley muhly mouille mooley moolah moola mool moly mollie maul mollah moll mole mola moil mule mull mullah amole