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1
Place egg yolks and water in a heatproof bowl set over simmering water (the bowl must not touch the water); whisk vigorously until yolks reach 60°C and become pale and frothy (2–3 minutes).
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2
Remove from heat and continue whisking off the heat for 30 seconds to cool slightly to 50°C.
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3
Add warm clarified butter drop by drop while whisking constantly; once the emulsion begins to hold, add butter in a thin, steady stream while whisking without pause.
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4
If the sauce becomes too thick, whisk in a few drops of lemon juice or water to thin it slightly.
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5
Season with salt, white pepper, and cayenne if desired.
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6
Hold in a warm water bath at 43–50°C; do not exceed 55°C or the emulsion will break.