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Grease and 8x8 inch pan.
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In a saucepan over medium heat, combine the brown sugar, butter and milk.
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Cook until the mixture reaches the softball stage. 234-240 degrees F, 112-115 degrees C (Resembles frothy bubbles).
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Combine the cornstarch and water, add to the saucepan and mix well. Remove from heat and beat for 2 minutes. (It will lose it's gloss as it gets close to being ready for next step).
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Stir in the vanilla and peanut butter until well blended.
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Spread evenly into prepared pan.
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Let cool then cut into squares. (It will look a couple of shades paler).