8 slices bacon
1 (8-oz.) block cream cheese, softened
1/3 c. mayonnaise
1/3 c. sour cream
1 tsp. garlic powder
2 tsp. jalapeños, minced
1 1/2 c. shredded cheddar
1 1/2 c. shredded Monterey Jack
Freshly ground black pepper
Preheat oven to 350º. In a large nonstick skillet over medium heat, cook bacon in batches until crispy, about 8 minutes. Drain on a paper towel–lined plate, then chop.
In a large bowl, stir together cream cheese, mayo, sour cream, garlic powder, most of the cooked bacon (reserve some for topping), most of the jalapeños (reserve some for topping), and 1 cup each of cheddar and Monterey Jack. Season with salt and pepper.
Transfer to a small oven-safe skillet or baking dish and sprinkle with remaining 1/2 cup each of cheddar and Monterey Jack, cooked bacon, and jalapeño.
Bake until dip is golden and bubbly, 15 to 20 minutes. Serve with tortilla chips or baguette slices.