No, butterscotch is not the same as caramel. While both are sweet flavors created by cooking sugar, they differ in ingredients and taste. Butterscotch is made by melting butter and brown sugar together, resulting in a creamy and slightly nutty flavor – so this recipe is technically butterscotch. Caramel is created by caramelizing granulated sugar, leading to a rich, deep taste with notes of cooked sugar and a hint of bitterness.