Before starting the cheesecake filling, place a kettle or large pan of water on the stove to heat for the water bath. Preheat the oven to 325°F (160°C).
In the bowl of a stand mixer, beat the softened cream cheese, one block at a time, until smooth and creamy. Add the sour cream, and beat on low speed until combined.
32 ounces cream cheese, ¾ cup sour cream
Pour in the sugar, and continue mixing until fully incorporated.
1 ¼ cups granulated sugar
Add the vanilla extract along with the eggs, one at a time, mixing between each addition.
1 ½ teaspoons vanilla extract, 5 large eggs
Pour the cheesecake batter over the prepared crust.
Set the springform pan into a larger, oven-safe pan (such as a roasting pan). Carefully pour the hot water into the larger pan to create a water bath, taking care not to splash any water onto the cheesecake.
Bake for 65-75 minutes or until the center is set but still slightly jiggly.
Turn off the oven, crack the door, and let the cheesecake cool in the oven for 1 hour. This helps prevent cracking.
After 1 hour, move the cheesecake to a wire rack, and allow it to cool at room temperature for another hour.
Once cooled at room temperature, transfer the cheesecake to the refrigerator, uncovered, to chill for 4-6 hours, or until fully set.