Here is a recipe for Almond Paste from the book "Secrets of A Jewish Baker" by George Greenstein. It is really a treasure trove of how to's. This is one recipe I have yet to try.

Grind the almonds and 2 tablespoons of the water in a food processor until the mixture has a smooth texture when rubbed between your fingers.

Warm the remaining 2 tablespoons of water in a heavy saucepan. Add the sugar and corn syrup. Heat the mixture slowly until the sugar melts, then bring it to a boil. Cover and boil for 3 minutes.

Remove the lid but do not stir the mixture. Heat the mixture to 240 degrees F (soft ball stage). (You may find it helpful to use a candy thermometer) Remove the pan from the heat and add the almond extract.

With the food processor running, slowly add the hot syrup to the almonds until the paste forms a ball.

When almond paste is cool, place in a sealable plastic bag or tightly covered container and refrigerate. Allow to season for one week. Bring to room temperature before using.