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.
mulatto moult molto mullet malate muleta mullite maleate molt milt malt melt muled milty melty malty mould mallet maloti melody millet mauled meloid malady miladi mulled mouldy milady maillot melodia miauled
mulatto latte lotto blotto gelato lat