Melt the butter in a medium skillet over medium heat.
Add the onions, salt, pepper, and cayenne pepper.
Cook and stir for 5 minutes to soften.
Reduce heat and continue cooking for 20-25 minutes, stirring occassionally. Cook until golden brown and very soft. (Carmelized.) Set aside to cool.
Place the cream cheese in a large bowl. Add onion powder, parsley, oregano, and basil.
With a hand mixer, beat cream cheese and herbs until light and fluffy.
Add in sour cream and mayo and continue mixing until well-combined.
Fold in your cooked onions.
Refrigerate at lest 2 hours. (Overnight is preferable.)
Allow to come to room temperature before serving.
Serve garnished with fresh chives and/or chopped fresh parsley.