Soak the red chilies in warm water for an hour to soften.
After soaking drain water from chillies.
Blend the red chilies , garlic, salt and peanuts to a coarse paste. Don't add water during blending.
Now heat oil in a pan, and crackle mustard seeds. Add asafetida and the blended chili paste. Cook until the oil separates out.
This is spiciest Indian chilli sauce . It is full of different flavours i.e. the garlic, crunch from the peanuts. This sauce compliments rice, chapati , dal and dosa too.