Finely dice the chocolate and place it in a heat-proof bowl (glass or ceramic work best as plastic can retain grease, which could affect the consistency of the ganache).
In a small pan, heat heavy cream over low-medium heat, stirring constantly, until it comes to a simmer.
Pour the hot cream over the chocolate and allow to set for 2-3 minutes.
Using a spatula, stir the ganache until it's smooth and glossy.
Allow to set for 10-15 minutes for a ganache drip or place a piece of plastic wrap against the surface of the ganache and allow it to cool all the way to room temperature for a frosting.
Notes
Troubleshooting
Chocolate didn't melt/ganache isn't smooth: If your ganache isn't smooth, it's likely the chocolate didn't melt completely. And if it didn't melt, it just needs a little more heat. Place your bowl of ganache over a pot of simmering water and stirring regularly, heat until the ganache can be stirred smooth.
Ganache split: Does your ganache have oily streaks in it? This means it's split. To fix a split ganache, stir in a tablespoon of warm cream. Keep adding a tablespoon at a time until it comes together.
Won't set: If the ganache isn't setting, it's likely that it hasn't had enough time to cool or that it was too thin to begin with. If you're sure you've let it cool to room temperature, you can add some melted chocolate to thicken it up. You'll need to reheat the ganache if it's cooled completely before adding the melted chocolate.
Ganache is grainy: Graininess can be a sign that the cream was too hot when it was added to the chocolate. If this happens, reheat the whole thing over a pot of simmering water, stirring until it stirs smooth.
Ganache is too hard: If your ganache has set too hard, it may be that it was exposed to too cold an environment or that it has too much chocolate. If your kitchen is particularly cool, try heating the ganache in the microwave using 15-second bursts until you get the right consistency. For a ganache with too much chocolate, try adding more warm cream, one tablespoon at a time, until you get the consistency you want.
Storage
Chocolate ganache can be stored at room temperature for up to 2 days.
Ganache can also be refrigerated for up to a week or frozen for up to 3 months.