In a medium sauce pan, combine water, distilled white vinegar, Worcestershire sauce, and Tabasco sauce. Then add dark brown sugar and molasses and ensure they're dissolved and combined.
Add tomato paste and ensure it's well combined.
In a separate bowl combine 2 tbsp cornstarch and 1/2 tbsp water to form a slurry. Then add to sauce.
Then add your remaining dry ingredients and whisk together.
Set burner to medium heat and get sauce to a slight boil. Once at a slight boil, lower heat to low/simmer and simmer for 15 minutes.
Once at your consistency, take off heat to cool. Once cooled transfer to a mason jar or similar container.
Notes
If you want some smoke flavor, add 1/2 tablespoon of liquid smoke.