1. Prepare the Crust:

1. Line an 8×8-inch baking dish with parchment paper, leaving an overhang on the sides for easy removal.
2. In a medium saucepan, combine white chocolate chips, sweetened condensed milk, and butter. Heat over low heat, stirring constantly, until melted and smooth.
3. Remove from heat and stir in vanilla extract and almond extract (if using). Gently fold in chopped maraschino cherries.
4. Pour the mixture into the prepared baking dish and spread evenly. Refrigerate for at least 2 hours or until firm.
5. Lift the fudge out using the parchment paper overhang and cut into squares. Store in an airtight container in the refrigerator.