This is the easiest path to homemade dulce de leche, which is traditionally made by simmering sweetened milk for many hours until it caramelizes and thickens—constantly stirring all the while to make sure the milk on the bottom does not scorch. Simmering condensed milk inside the can means minimal mess, no stirring, and the results are outrageously good.

Remove the label from:

Place the can, unopened, in a pot or deep saucepan. Add water to cover by 1 inch. Bring to a boil, reduce the heat, cover, and simmer on medium-low heat for 3 to 4 hours (the longer the cooking time, the darker the dulce de leche will be). Check the pot occasionally to make sure the water level stays above the top of the can. Carefully remove the can from the water. The contents of the can will be under pressure so allow the can to cool completely before opening.