I do make hot sauce, but also of other sauces. I like alot of Asian cuisine, so I'll make teriyaki, or miso butter, or just thin out so gochujang with vinegar. Also BBQ sauces and such. I also use sauce bottles to store oils for easy squeezing and I keep little jars full of common dry ingredients like salt, sugar, and black pepper that I fill using funnels.
For hot sauce, I start with most peppers only using white vinegar and salt. Chop up the peppers with salt and let sit at room temp to ferment about a day (I haven't tried longer). Then I add vinegar and let it sit for 7-10 days at room temp. After that, puree and strain or if you want more chili solids, you can experiment with it unstrained or partially strained. I like to try this approach first with peppers, because it will put the pepper's flavor front and center. Fermenting is one of the steps I haven't played around with too much, but it would certainly be possible to let it go longer, but I need to research proper fermentation more.
I've tried using citric acid to keep jalepenos from turning ugly green, but it hasn't seemed to work well, but it's one of the additives I keep on hand. Also soy lecithin as an emulsifier to help keep them form separating. It can also be used to thicken or xanthum gum as well. It's really a preference thing there.
The rest is really up to you. Spices, garlic, and pepper blends are typical. Also some sort of citrus, fruit, or sweetener to balance flavors. I often cut hotter peppers with something, like carrots for habeneros. Also roasting the peppers can add depth and mellow them out. Smoking is also an option. Peeling the skin and/or removing ribs and seeds can also reduce heat and bitterness. Peeling is a pain though for small peppers.
I am growing some ghost and scorpion now, which is hotter than I typically go, but I'm going to see if I can make a sauce out of those.