Combine all ingredients in a small saucepan. Place over medium heat until boiling. Reduce to Low and simmer for 5 minutes, stirring often.
1 cup ketchup, 1 tbsp water, 1 tsp brown sugar, 1/4 tsp onion powder, 1/4 tsp garlic powder, 1 tsp Tabasco sauce, 1 tsp Worcestershire sauce, salt and pepper