Pat beef chuck cubes dry and season with salt and pepper. Brown in two batches over medium-high heat, 3-4 minutes per side, without crowding the pot. Remove beef and set aside.
2 lbs beef chuck, salt, black pepper
In the same pot, cook diced onions over medium heat until soft and golden, about 8 minutes. Stir in minced garlic and caraway seeds, cook for 1 more minute until fragrant.
2 large onions, 4 cloves garlic, 1 tsp caraway seeds
Remove the pot from the burner and stir in Hungarian sweet paprika and tomato paste to prevent burning. Return to heat, add the beef back in, pour in beef broth, and bring to a boil.
3 tbsp Hungarian sweet paprika, 2 tbsp tomato paste, 3 cups beef broth, 2 lbs beef chuck
Reduce heat to low, cover, and simmer gently for 2 hours, stirring occasionally. Add chopped bell peppers and cubed potatoes (if using) in the last 30 minutes of cooking.
2 bell peppers, 2 medium potatoes
Turn off heat and let the stew sit covered for 10 minutes. Taste and adjust salt. Add a splash of vinegar or lemon juice if needed for brightness. The sauce should coat the back of a spoon.