Here are two 'tried and true' methods of making bacon.

Alton Brown's Homemade Bacon

1 cup sugar
1 cup salt
8 ounces molasses
1/2 gallon (2 quarts) water
1/2 gallon (2 quarts) apple cider
2 tablespoons course ground black pepper
1 (5 pound) piece raw pork belly from the lion end

In a large non- reactive pot, bring half the water, 1 cup of sugar, salt, and 8 ounces molasses to a boil. Stir to dissolve the sugar. Pour into a large container with the remaining water, and the apple cider. Place in the refrigerator and cool to 40F.

Press the black pepper into the pork belly. Once the brine has cooled place the peppered pork belly into the mixture until completely submerged. Refrigerate for three days.

After three days have passed, remove the pork from the brine and pat dry with paper towels. Lay on a rack over a sheet pan and place in front of a fan for 1 hour to form a pellicle. Lay the pork in the protein box of a cold smoker and smoke for 4 to 6 hours.

Chill the meat in the freezer for 1 hour to stiffen for easy slicing into strips of bacon. Slice what you need and keep the remainder in a freezer safe bag in the refrigerator or freezer.

Cooking:
Place the strips of bacon onto a sheet pan fitted with a rack and place into a cold oven. Turn the oven to 400F and cook for about 12 to 15 minutes, depending on how crispy you like your bacon. Remove from rack and drain on paper towels. Enjoy.

Recipe courtesy of Alton Brown
FoodTV Show: Good Eats Episode: Scrap Iron Chef

Richard Thead's Bacon Making Procedure

It is my experience that bacon is the easiest product to produce at home and the results are as good as, or better than, the best commercially produced bacon.

I use Morton Tender Quick and brown sugar. Rub down a slab of fresh bacon (pork belly) with a liberal quantity of the Tender Quick. You can't really use too much but a cup or so should do. Then follow with a thorough rub of brown sugar (again, start with a cup or so). Then place the meat in heavy plastic and allow to cure for 7 days at 38F.

I use a small refrigerator for this. I run a remote temperature probe inside and monitor the temperature, tweaking the thermostat when necessary. The temperature is important; too low (below 36F) and the curing action will cease, too high (above 40F) and the meat will begin to spoil. I also cut the pork belly in two and cure it with the meat surfaces face to face and the skin on the outside. It helps it fit in the fridge and improves the curing action.

I then smoke it at 140-150F until the internal temperature of the pork reaches 128F (about 8 to 10 hours). I find it best to remove the skin about 3/4 of the way through the smoking process. This way the fat is protected but still acquires some color.

Chill overnight before using.

If you are using Prague Powder #1, mix 2 oz with 1 lb of salt and use like the Tender Quick.

Other sugars can be used instead of brown sugar. Try honey or even
some maple syrup.