Homemade Caramel from Sweetened Condensed Milk

Remove the label from the can of sweetened condensed milk. It's a minor step, but this prevents any residue from burning onto the can, and allows you to keep a clean workspace.

Place the can in a large pot. Ensure the entire can is covered with water by at least 2 inches. This will ensure even distribution of heat and prevent any possible pressure build-up and possible bursting of the can.

Bring the water surrounding the can to boil on high heat. Once the water is obviously boiling, reduce the heat to low, let it simmer for three hours. Check periodically to make sure the water level is still above the can, adding more boiling water if necessary. This is crucial - the one thing I can't stress enough is to keep that can submerged!

After three hours, turn off the heat and carefully remove the can from the pot using tongs or a thick pair of oven mitts. Let the can cool down fully before opening it. This can take a couple of hours or if desired, you can let it sit overnight.

Once cooled, open the can to reveal your rich and creamy homemade caramel! Stir it well before using, to ensure an evenly smooth texture.