Parachutes rhymes with:
offshoots, absolutes, attributes, bandicoots, constitutes, executes, grapefruits, institutes, institutes', jumpsuits, lawsuit's, lawsuits, offshoots, pantsuits, persecutes, prosecutes, prostitutes, spacesuits, substitutes, swimsuits
Parachutes sounds like:
parakeets, parasites, parasitic, perquisites, persecutes, persists, persuades, practice, practices, precedes, preceeds, preexists, prejudge, prejudice, prejudices, prerequisites, presides, presstek, presswoods, prestage, prestech, prestidge, prestige, prestigious, prestowitz, prestwich, preyistas, priest's, priestess, priests, proceeds, project's, projects, projects', prosecutes, prostatic, prostheses, prosthesis, prosthetic, prosthetics, prostitutes, puristic, purists, pursuits