Here's how I've been doing it (please refer to someone or something that actually knows what they are doing, like the Ball Blue Book Guide to Preserving for more tips on how to do this stuff. I really don't know what the heck I'm doing--just kind of muddling through, following the book):
Canned Honeyed Peachespeaches
Wash peaches. Dip peaches in boiling water 30 to 60 seconds then immediately immerse in cold water. Peels should slip right off (if they don't, a paring knife or veggie peeler works as well). Reserve peels. Cut peaches in half or quarters and pit. Pack in jars as you go, covering with syrup once filled. Leave a 1/2-inch headspace. Remove air bubbles. Put on two-piece caps. Process pints 25 minutes, quarts 30 minutes, in a boiling water canner.
Place peels in a saucepan. Cover with water. Heat slowly until peels get mushy. Strain, pressing down on peels to get as much liquid out as possible. Discard peels and return liquid to pan, measuring how much there is. Add 1/2 as much sugar as there is liquid. Stir in and heat rapidly to boiling. Boil down quickly until it reaches consistency of honey. Pour into jars, leaving 1/4 inch headspace. Put on two-piece caps. Process in a boiling water canner for 5 minutes.