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.
moults molts moulds mullets muletas milts molds melts malts multiuse mulattos mullites mulattoes malates maltase millets mallets maltose maillots maleates melds milds melodious mildews meloids miladis maladies melodias melodies melodise miladies
faults poults vaults saults gaults cults moults gilts blets ballutes fallouts blots bluets flouts ballets callets mallets glutes molts quillets jolts mullets palets bullets lots pullets moulds lits pilots fluyts plats flits guilts lutes hilts faulds pollutes sallets shallots wilts welts toilets tallits dilutes deltas solutes slots slats sellouts salutes rialtos howlets rollouts bailouts reallots blats lats kelts flutes louts halts pellets milts valets violets clouts jilts lilts culets kilts altos billets pelts filets pallets malts volts quilts cultus helots clots voltes valutas belts cullets colts millets flats gluts gelts glouts maillots flautas lets gullets alts melts plots fillets rillets bolts veloutes gallets felts owlets collets caulds piolets elutes ballots pullouts volutes allots celts relets salts holts silts slits sluts zealots delts dolts tilts wallets willets chalets sheltas
mould moult mouldy emulate mauled moiled mold moldy molt molto mulatto muleta mulled mullet mullite amulet muled smolt