1. Char the jalapenos on all sides over an open flame or under a broiler, then transfer to a bowl and cover with plastic wrap. Let steam until softened, about 5 minutes. Wipe away the charred skin with a damp paper towel. Remove and discard the stems, then transfer the jalapenos to the base of a blender.
2. Add the ketchup, vinegar, Worcestershire sauce, paprika, garlic powder, onion powder, cayenne, honey, and salt to taste.
3. Blend on high speed until completely smooth, scraping down the sides of the blender as needed. Taste and adjust the seasoning with additional salt, vinegar, or cayenne as desired.
4. For the best flavor, cover and refrigerate for at least 1 hour before serving.

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