Preparation:
Butter an 8-inch square pan (I usually line pan with foil, then butter). Place butter/margarine in 2 quart glass measuring bowl with handle. Microwave on HIGH for 1 minute. Remove, stir in brown sugar and condensed milk. Return to microwave at HIGH for 8 to 9 minutes or until mixture is medium caramel color, stirring every 2 minutes.
Remove and stir in vanilla. Beat with wooden spoon for 2-3 minutes. Fold in walnuts. Pour into buttered pan. Cool to lukewarm; refrigerate until set.
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