In a medium saucepan, combine all the ingredients: ketchup, brown sugar, vinegar, water, Worcestershire sauce, dry mustard, paprika, salt, black pepper, and hot pepper sauce.
Stir the mixture well until all ingredients are thoroughly combined.
Place the saucepan over medium heat. Bring the mixture to a gentle simmer, stirring occasionally to prevent sticking.
Once it starts to simmer, reduce the heat to low and let it cook for about 15-20 minutes. This allows the flavors to meld together. You can adjust the thickness by adding more water if desired.
After simmering, taste the sauce. Adjust seasoning if necessary: add more hot pepper sauce for extra heat, or more brown sugar for sweetness.
Remove from heat and let the sauce cool. Once cooled, transfer it to a clean jar or bottle. The sauce can be refrigerated for up to 2 weeks.