Flan

TO PREPARE SAUCE: Into a 3-quart heatproof bowl or mold (stainless steel is a good choice), put the sugar and the cup of water. Place the pan directly on the burner and heat over medium-high heat until the sugar and water caramelize to a dark brown color. This should take about 10 minutes. Much of the liquid will evaporate.

Using potholders, carefully remove the pan from the burner and gently swirl the caramel sauce around the inside of the bowl until all the sides are coated lightly. Set the bowl inside a 9- x 13-inch baking pan and place it on a baking sheet.

Preheat the oven to 350 degrees F.

TO MAKE FLAN: In a blender, combine the sweetened condensed milk, water, and the eggs. Blend until smooth. Add the vanilla and blend briefly. Pour the flan mixture into the prepared bowl. Cover the bowl loosely with aluminum foil, gently crimping the edges to seal. The bowl will still be hot, so be sure to use a potholder when you touch it.

Pour enough hot water around the bowl until it goes halfway up the outside of the bowl. Place the baking sheet, holding the water bath and the covered flan bowl, into the oven and bake for 1-1/2 hours, until the custard is set.

After baking, carefully remove the flan from the oven and with potholders, lift the bowl out of the water bath and put the bowl onto a rack. Remove the foil cover. Let the flan cool at room temperature for 30 minutes, then refrigerate for 2 hours.

TO SERVE: Run a knife between the flan and the edge of the bowl. Set a plate over the top of the bowl, turn the whole thing over and give it a shake. The flan will unmold onto the plate. Spoon out any of the caramel sauce that is left in the bowl. Slice the flan into wedges and spoon the caramel sauce on top.