Recipe courtesy Emeril Lagasse, adapted from Essential Emeril: Favorite Recipes and Hard-Won Wisdom From My Life in the Kitchen, Oxmoor House, 2015, courtesy Martha Stewart Living Omnimedia, Inc.
Remove and discard the stems from the chiles, and deseed half. Coarsely chop the chiles. Place in a blender along with the salt, and process until it becomes a semi-smooth mixture -- still with some texture. Transfer to a saucepan and bring to a simmer over medium heat. Cook until the peppers soften a bit, 4 to 5 minutes.
Remove the pan from the heat and stir in the vinegar and water. Cool to room temperature, then transfer to clean jars with tight-fitting lids. Top with a bit of olive oil, if desired, then refrigerate the pepper sauce until ready to use; it will keep up to several months.