fazing, phasing

The words fazing, phasing sound the same but have different meanings and spellings. Why do fazing, phasing sound the same even though they are completely different words?

The answer is simple: fazing, phasing are homophones of the English language.

fazing
  1. :: verb

    Present participle of faze.

phasing
  1. :: verb

    Present participle of phase.

  2. :: noun

    Movement through phases; arrangement of a sequence or cycle.

Definitions from Wiktionary, Creative Commons Attribution/Share-Alike License and Wordnik.

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About Homophones

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").