Preheat the oven to 180 degrees. Pour the almonds in one layer onto a metal baking sheet. Fry for 10 minutes. In a large bowl, combine sugar, salt, and cayenne pepper.
In a large skillet over medium heat, stirring occasionally to heat the honey and water for 1 minute. Pour in almonds, mix well.
Transfer the almonds to the sugar mixture and stir. Transfer the almonds to baking paper and dry.