It's easy to make dulce de leche, and you will find that you can use it in dozens of sweet recipes.
*Makes about 1 3/4 cup | serving size: about 1 tablespoon
Remove the paper label and use a bottle opener to puncture the top of the can on two opposite sides. These holes are very important because they will keep the can from exploding during the cooking!
Place a small cloth in the bottom of a sauce pot -- this will keep your can from making a racket! (Your pot should be about the height of the can, or higher.)
Place the can directly on the cloth and then fill the pot with water to about 1/2-inch below the top rim of the can.
Bring the water to a boil and immediately turn the flame to the lowest setting. The idea is to keep the water at a slight simmer. Let it simmer like this for 6 hours. Every 45 minutes or so, refill the water to 1/2-inch below the top rim of the can, as it will continue to evaporate. You will see a little bit of white milk ooze out of the top, and that's OK -- don't mess with it!
Use a thick kitchen towel to remove the can from the water. Open the can with an opener, and pour the milk -- which will now be a rich caramel color -- into a small mixing bowl. Use a heat resistant, rubber spatula to get every bit out of the can (it will be firmer towards the bottom.) Use a metal whisk to blend until it's smooth. This should only take a few seconds.