Rinse beans. In a large saucepan combine beans and water. Bring to a boil; reduce heat. Simmer for 2 minutes. Remove from heat. Cover and let stand for 1 hour. (Or, soak beans overnight in a covered pan.) Drain and rinse the beans.
In a large saucepan or Dutch oven cook the onion and garlic in hot oil until tender. Stir in chili powder, cumin, oregano, paprika, salt, and ground red pepper. Cook and stir for 1 minute. Add the beans, vegetable or chicken broth, undrained tomatoes, and sherry or water. Bring to a boil; reduce heat. Cover and simmer for 1 to 1-1/2 hours or until beans are tender.
To serve, ladle chili into individual bowls. Top with a dollop of yogurt or sour cream and sprinkle with cilantro. Makes 4 servings.
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