4 egg yolks
2 tsp lemon juice
4 tsp water
1/8 tsp cayenne pepper
pinch of salt
freshly ground pepper
1/2 sticks of butter
Ok, here's how to do it. Put the two sticks of butter in the saucepan, and melt it on medium heat. Make sure the butter is hot, but don't allow the fat to burn. Pour the hot butter into a pourable pyrex measuring cup and set next to the blender. Put the egg yolks, water, lemon juice, pepper, and salt into your blender. Turn the blender on, and while it's running open the feed tube at the top and slowly drizzle your butter in through the top. DON'T DUMP THE BUTTER IN ALL AT ONCE! The trick is the slow drizzle. If the butter is hot it will cook the eggs to the correct temperature. Pasteurized eggs are a good choice when making egg based sauces, so I always suggest them. If you have a thermos it's a great way to keep the sauce warm.
If you add a chipotle pepper or two it makes a wonderful southwestern hollandaise over poached eggs, and jalapeno cornbread.