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.
steal stele steel stall stale stela setal steely stelai stella stelae steelie sotol style still sadly stile stool stull stole styli sedile seidel settle stilly sedilia seedily sootily stoolie
luteal teal steal tel deal tail hiatal coattail meatal kittel tale lately cutely tael ritual ideal foetal tali cattail mutuel mutely pedal ratal rattail retell setal stall steel stele dedal dotal total chaetal chital notal metal fatal hotel ratel natal outtell motel mutual coital botel medal tall retail petal vital boatel fetal catalo stale betel tell tele tela teel cattalo tala stela daedal detail dottel whitely chattel hyetal
satay sate seat seta setae site staw stay stew stewy stey stoa stoae stoai seaside teased