Dulce de Leche is a caramel made with cream and milk reduced with sugar until it thickens.
Bring milk and heavy cream to a boil in large saucepan over medium heat; add the sugar. Reduce heat to a simmer and cook over medium low heat for approximately 2 hours until the cream becomes a thick light brown caramel. Turn heat off and add vanilla extract. Pour into a clean plastic container and cool in refrigerator. Yields about 3 cups (21 oz) of Dulce de Leche.
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