Split the English muffins and set them aside. Place the Canadian bacon or ham slices on a plate or tray so they are ready to warm through later. Eggs Benedict moves quickly once the eggs and hollandaise are ready, so having the base components prepped first makes assembly much easier. That upfront prep matters directly because hollandaise and poached eggs both have genuinely narrow windows of readiness — scrambling to prep the base components at the same time risks letting either the sauce or the eggs drift past their ideal moment.

Melt the butter gently in a small saucepan over low heat until fully melted and hot, but not browned. Keep it warm. The butter should be hot enough to help emulsify the yolks, but not browned or aggressively bubbling. Genuinely hot butter is what allows the emulsion to form properly as it's whisked into the yolks — butter that's only lukewarm wouldn't provide enough heat to help cook and thicken the yolks during that process.

In a heatproof bowl, whisk together the egg yolks, water, and lemon juice. Set the bowl over a saucepan of barely simmering water, making sure the bottom of the bowl does not touch the water. Whisk constantly for about 1 to 2 minutes, until the yolks look slightly thickened and creamy. Keeping the bowl above, rather than touching, the simmering water protects the yolks from direct, aggressive heat — that gentle, indirect warmth is what allows them to thicken gradually into a stable base rather than scrambling.

While whisking constantly, slowly drizzle in the warm melted butter, starting drop by drop, then in a thin steady stream once the sauce begins to thicken. Continue whisking until the hollandaise is glossy, thick, and smooth. Season with the salt, black pepper, and a pinch of cayenne or paprika if using. If needed, add a few drops of lemon juice to brighten it. The finished hollandaise should ribbon off the whisk and hold softly on itself. It should be thick and glossy, not stiff or greasy. That initial drop-by-drop addition is what lets the yolks' emulsifying capacity keep pace with the incoming fat — once enough butter has been successfully incorporated to establish a stable emulsion, the mixture can accept butter considerably faster without breaking.

Take the hollandaise off the heat and keep it in a warm spot while you finish the rest. If it thickens too much, whisk in 1 tsp warm water at a time until it loosens slightly. Never hold hollandaise over strong heat or it may split or scramble. Warm is good, hot is not. Egg-yolk-based emulsions are genuinely fragile against sustained high heat, and this warm-not-hot holding principle is what protects the sauce's smooth texture right up until it's spooned over the finished plate.

Toast the English muffin halves until lightly golden. If you like, brush or spread lightly with a little butter. In a skillet over medium heat, warm the Canadian bacon or ham for about 1 to 2 minutes per side, just until heated through and lightly browned at the edges. Keep warm. Warming the ham only briefly, rather than fully cooking it further, respects that it's typically already cured or cooked — this stage exists purely to bring it to serving temperature and add a little browned edge, not to cook it from raw.

Bring a wide saucepan of water to a gentle simmer, not a full boil. Add the vinegar. Crack each egg into a small cup or ramekin first. Create a gentle swirl in the water, then lower the eggs in one at a time. Poach for about 3 to 4 minutes, until the whites are set but the yolks are still soft and runny. Lift the eggs out with a slotted spoon and let them drain briefly on a paper towel. The water should stay at a gentle simmer only. Boiling water makes ragged whites and can break the eggs apart. A hard boil agitates the water enough to physically tear apart the delicate egg white as it sets, producing the ragged, wispy strands a gentle simmer specifically avoids.

Place the toasted English muffin halves cut side up on plates. Top each half with one slice of Canadian bacon or ham. Place one poached egg on each. Spoon a generous layer of hollandaise over the top, letting it flow down the sides slightly. Assembling in this specific order — crisp muffin, warm ham, egg, then hollandaise — keeps the crispest component at the base, protecting it from sitting directly under the sauce any longer than necessary.

Scatter over the chopped chives. Finish with black pepper and a light pinch of paprika. Serve immediately. Eggs Benedict should be served right away while the muffin is still crisp, the egg is warm and runny, and the hollandaise is glossy and flowing. This dish's entire appeal depends on catching every component at its individual best moment simultaneously — any real delay lets the muffin soften, the egg cool, or the hollandaise begin to set.