Start by bringing a large pot of salted water to a boil. Add the elbow macaroni and cook according to package instructions until al dente. Once cooked, drain the pasta in a colander and set aside.
In a medium saucepan over medium heat, melt the butter. Once melted, whisk in the all-purpose flour, stirring constantly for about 1-2 minutes until it forms a roux.
Gradually pour in the milk and heavy whipping cream, whisking continuously to avoid lumps. Cook this mixture until it thickens, which usually takes about 5-7 minutes.
Remove the saucepan from heat and stir in the shredded sharp cheddar cheese until melted and smooth. Season with salt, Tabasco sauce, and freshly ground black pepper to taste.
Add the cooked macaroni to the cheese sauce, stirring until the pasta is fully coated with the creamy goodness.
You can serve this Classic Macaroni and Cheese immediately or transfer it to a baking dish to bake for a crispy top. If baking, preheat your oven to 350°F (175°C), sprinkle some extra cheese on top, and bake for 20-25 minutes until bubbly and golden.