Finding matching words in a word game

Hello,

is there maybe a clever way of finding all possible words
from a given set of letters by means of PostgreSQL
(i.e. inside the database vs. scanning all database
rows by a PHP script, which would take too long) -
if the dictionary is kept in a simple table like:

create table good_words (
        word varchar(16) primary key,
        stamp timestamp default current_timestamp
);

I could add a column above, where same letters as in "word"
would be sorted alphabetically... but then I don't know.

I've described my question in more detail at
http://stackoverflow.com/questions/15220072/postgresql-and-word-games

Thank you for any suggestions
Alex