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.
palsy pals pails pales palls pawls peals palais paellas pols plus puls pilus peels poles polos plays plies piles polys pules peles plows ploys plews polls pills pilis pulse pulis pools pulls polis pleas paillasse palliasse pileus policy palace poleis pilous pilaus poilus polies pilaws plisse please polios pilose palazzi palazzo pelisse pileous pillows pollees pulleys
palsy als gales miauls jouals males calos calls classy heals coals gals valse vials halos nalas aals ails alas koalas kails pales glassy bialys ales foals alls bawls vails teals sials talls sheals shauls taels wheals weals dials wauls wales dahls rails salsa talas pawls rials lalls pals reales dals also seals mauls sales hales veals falls goals false pails cauls coalas hauls hails baals mails quails kales jails bals palls galls vales gaols balsa phials fails ballsy balas bails halls bialis meals galas malls sauls sals balls zeals nails deals reals awls bales sails peals tales rales wails dales walls wawls duals whales shales tails shawls shoals talus yawls
pal paella pail pale palea paleae pall pallia pally paly pawl peal pial opal spale spall