Grease a 15 1/2 x 10 1/2-inch jelly roll pan. Heat sugar, corn syrup and water to boiling in a heavy 2-quart saucepan over medium heat; stir in butter. Set candy thermometer in place.
Continue cooking, stirring frequently, until temperature reaches 300°F or hard-crack stage (when a small amount of mixture dropped into very cold water separates into hard and brittle threads), about 20 minutes. Remove saucepan from heat.
Set aside 1/4 cup almonds; stir remaining almonds and TABASCO® Sauce into hot syrup. Immediately pour mixture into prepared pan and spread evenly. Cool completely.
Melt chocolate in a small saucepan over low heat; cool slightly. Spread melted chocolate over candy and sprinkle with reserved almonds, pressing gently into chocolate. Refrigerate mixture until chocolate is set. Break candy into pieces to serve.
Makes about 1 3/4 pounds candy.