The words eyed, I'd sound the same but have different meanings and spellings. Why do eyed, I'd sound the same even though they are completely different words?
The answer is simple: eyed, I'd are homophones of the English language.
Having eyes of a specified number or kind. Often used in combination: one-eyed; blue-eyed.
Contraction of I had.
Contraction of I would.
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.