Tear chiles in pieces and place in a medium bowl. Bring water to a boil and pour over chiles. Soak chiles for about 30 minutes until pliable. Add chiles and remaining ingredients to a blender and puree. You can use the soaking water to thin the mixture as desired.
To store the paste place it in a small, tightly-sealed jar or other container. Store refrigerated for about 2 weeks.