The words kite, kyte sound the same but have different meanings and spellings. Why do kite, kyte sound the same even though they are completely different words?
The answer is simple: kite, kyte are homophones of the English language.
A light framework covered with cloth, plastic, or paper, designed to be flown in the wind at the end of a long string.
Any of the light sails of a ship that are used only in a light wind.
Any of various predatory birds of the hawk family Accipitridae, having a long, often forked tail and long pointed wings.
A piece of negotiable paper representing a fictitious financial transaction and used temporarily to sustain credit or raise money.
See kite.
An obsolete form of kite.
Definitions from The American Heritage® Dictionary of the English Language, 4th Edition, from The Century Dictionary and Cyclopedia and Wordnik.
Homophones (literally "same sound") are usually defined as words that share the same pronunciation, regardless of how they are spelled.
If they are spelled the same then they are also homographs (and homonyms); if they are spelled differently then they are also heterographs (literally "different writing").