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.
wyled led lewd lead leud lied looed leady lid let lad lido lute leet laid late loid lode lade loud load lude laud lite
wyled led lead leud lewd lied hyped wyted
wyle wryly wale waylay wile yule