Hot Caramelized Onion and Bacon Dip

Hot Caramelized Onion and Bacon Dip was pinched from <a href="http://therecipecritic.com" target="_blank">therecipecritic.com.</a>

"Delicious and sweet caramelized onions inside this incredible creamy and cheesy dip! With the added bacon this dip is sure to be a huge hit at your next party!..."

INGREDIENTS
1 tablespoon oil
4 large sweet onions, thinly sliced
1/2 cup water
4 ounces cream cheese, softened
1/2 cup mayonnaise
3/4 cup grated remand cheese, divided (you could also use parmesan)
6 slices bacon, cooked and crumbled
salt and pepper to taste
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