In a medium heavy-bottomed pot, cook the peach slices with ¼ cup of water over medium heat and cover with a lid, stirring often, until they are very soft, about 10 minutes.

Carefully transfer the peach mixture to a blender and puree on high for about 60 seconds, until the flesh and skins of the peaches are completely pureed.

Return the puree to the pot over medium heat, add the lemon juice and honey, and continue to stir for 30 to 45 minutes, until the mixture is thick and forms a ribbon when dripping from a spatula. As you stir the mixture will spatter, so it is wise to use a spatter screen over the top or at the very least a large piece of paper towel. As bubbles form and spatter, stir constantly to prevent the mixture from scorching the bottom of the pot. Remove from the heat and let the puree come to room temperature.

Spoon the peach butter into mason jars or a freezer-safe container. It will store for up to 6 months in the refrigerator or up to 1 year in the freezer. Alternatively, process the peach butter in a hot-water bath for 10 minutes. It is best when consumed within 12 to18 months of canning.