Traditionally, homonym is the word used. It can be ambiguous, because sometimes it is applied to the same sound but different spelling, sometimes to the same sound and spelling but different...
Bits, zits, pits, fits, mitts, ritz, wits, knits, sits, hits, kits,
Bow, cow, Dow (as in Dow Jones), how, now, pow, sow, wow, endow.
wait weight hey hay lead led red read
Homonym- words that share the same spelling and pronunciation, but have different meanings.