Cut the jalapenos in half. Remove the seeds and membrane. (Note 1)
Combine cream cheese and shredded cheddar. Blend together until smooth. Fill each jalapeno half with cheese mixture. Wrap each jalapeno with a half slice of bacon.
Place bacon-wrapped jalapenos on a sheet pan lined with aluminum foil and a baking rack.
Bake for 25-30 minutes until the cheese is oozing and the bacon is brown and crisp.
Prepare the jalapenos as directed above. Instead of baking, place the peppers on a sheet pan and flash freeze for 30 minutes or until the peppers are firm. Transfer the peppers to a zipper-top freezer bag and store in the freezer for up to 3 months.
When ready to bake, preheat the oven to 425 degrees. Place the jalapenos on a foil-lined sheet pan fitted with a baking rack. Bake until the bacon is crispy and cheese is bubbly. Allow 5-10 minutes extra baking time when baking from frozen.
When working with spicy peppers, wear disposable gloves to protect from Capsaicin. Capsaicin is the ingredient in peppers that makes them spicy. It can be very irritating to the skin. If you don't wear gloves, wash your hands very thoroughly and avoid touching your eyes and face.