Step 1: In a saucepan, melt 1 lb. unsalted butter over medium-low heat. Don't use salted butter: The salty flavor will be concentrated when the butter is reduced.
Step 2: As the butter melts, skim off the white foam that rises to the top.
Step 3: Once the butter is melted and the foam is skimmed (this will take about 10 minutes), the milk solid sediment will be at the bottom of the pan with a layer of golden liquid on top. Carefully pour the top layer -- the clarified butter -- into a bowl.