The words bearing, baring sound the same but have different meanings and spellings. Why do bearing, baring sound the same even though they are completely different words?
The answer is simple: bearing, baring are homophones of the English language.
Baring, Alexander. First Baron Ashburton. 1774-1848. British financier and public official who concluded the treaty between Great Britain and the United States that defined the border between Canada and Maine (1842).
Heraldry A charge or device on a field.
The manner in which one carries or conducts oneself: the poise and bearing of a champion.
A machine or structural part that supports another part.
A device that supports, guides, and reduces the friction of motion between fixed and moving machine parts.
Definitions from The American Heritage® Dictionary of the English Language, 4th Edition and Wordnik.
Homophones (literally "same sound") are usually defined as words that share the same pronunciation, regardless of how they are spelled.