Drillbit rhymes with:
tidbit, armpit, beckwitt, bullshit, cockpit, counterfeit, goldschmidt, hammerschmidt, horgavitt, hypocrite, identikit, kleinschmidt, kuhlenschmidt, mandalit, messerschmidt, messerschmitt, misfit, moonlit, outfit, outwit, proudfit, retrofit, sunlit, tanartkit, telit, tidbit, waffenschmidt, waldschmidt, wolfenschmidt