Allow the water to a simmer for about 3 to 4 hours or until desired consistency. For a thicker texture cook closer to 4 hours. When satisfied with texture, use tongs to remove can from sauce pan to allow to cool slightly and pour dulce de leche in a bowl. Stir to desired smoothness and allow to cool before storing. Dulce de Leche is an incredible milk caramel sauce used in countless dessert recipes as a topping, filling, icing or frosting for alfajores, cookies, cakes, cupcakes, pies, ice cream and other dulce de leche recipes. It's ingredients will make all your dulce de leche recipes even more delicious.