To make easy caramel sauce (dulce de leche), remove the label from a 14-ounce can of sweetened condensed milk. Put the unopened can in a large saucepan and cover with water by 5 inches. Bring to a boil over high heat then reduce the heat to medium and simmer for 2 hours, adding water as necessary to keep the can covered. Remove the can with tongs and cool to room temperature. Open the can and spoon the thick, sweet caramelized sauce over ice cream, brownies, pound cake, apple crisp, or your favorite desserts.

For ultra-easy strawberry sorbet, puree 1 quart strawberries with 1 can (14 ounces) sweetened condensed milk and 2 teaspoons fresh lemon juice. Freeze in a shallow metal pan, stirring occasionally. Scrape out servings with a spoon.

To roll up some chocolate truffles in no time, combine 20 ounces of bittersweet chocolate (or a mix of bittersweet and semi-sweet chocolate), 1 can (14 ounces) sweetened condensed milk, and 1/4 teaspoon ground cinnamon in a saucepan. Cook over medium-low heat until the chocolate melts and the mixture can be stirred smooth. Let cool until the mixture can be handled, then roll into 1-inch balls between your palms. Roll in powdered sugar and store in an airtight container at room temperature for up to 1 week. You can also refrigerate the truffles for up to 2 weeks, but bring them to room temperature before serving for the best flavor.

For no-fuss refrigerator fudge, combine 1 can (14 ounces) sweetened condensed milk, 3 cups semi-sweet chocolate chips, and 1 1/2 teaspoons vanilla extract in a saucepan. Cook over medium-low heat until the chocolate melts and the mixture can be stirred smooth. Scrape into a foil-lined 8-inch square baking dish. Refrigerate for 2 hours or until the fudge is firm. Grab the foil to remove the fudge from the pan, then cut into 1-inch squares.