Homemade Dulce de Leche

Steps

1. Preheat oven to 425℉.

2. Open up the can and pour the sweetened-condensed milk into a pie pan. Cover tightly with foil. Place into a larger pan and pour boiling water in a larger pan and around pie plate (level of water should be about halfway up the pie plate). Don't let any water seep up and into the pie plate.

3. Place in the oven and bake for 1 hour. At the one hour point, peel off the foil and check for progress. If the mixture has thickened and turned a caramel color, it's done. If it doesn't quite look thick enough or dark enough, cover it up and bake it a little longer (mine took 75 minutes).

4. When the mixture appears to have turned into a nice, thick caramel, remove from the oven. Let sit for a few minutes, and then beat with an electric mixer until smooth.