Step 1: Understanding anatomical analogy.
Analogous structures in males and females are those that develop from the same embryonic tissues but differentiate during development due to hormonal influences.
Step 2: Development of the penis and clitoris.
Both the penis in males and the clitoris in females develop from the genital tubercle, which is a structure present in the early stages of embryonic development.
In males, under the influence of testosterone, the genital tubercle elongates and differentiates into the penis.
In females, due to the absence of significant testosterone influence, the genital tubercle develops into the clitoris.
Step 3: Functionality comparison.
While the penis is involved in both reproductive and urinary functions, the clitoris is primarily a sensory organ. Despite functional differences, they share a similar structure, containing erectile tissue and numerous sensory nerve endings.
\[
\therefore \text{The structure in females analogous to the penis in males is the clitoris.}
\]