Brown the beef: In a skillet over medium heat, cook the ground beef for 8 to 10 minutes, breaking it into crumbles, until only a little pink remains. Spoon out any extra grease, then add the beef to the crockpot.
Add the veggies and cans: Add the diced peppers and onion. Pour in the kidney beans, black beans, corn, and diced tomatoes without draining them.
Add the spices: Add the chili powder, cumin, onion powder, garlic powder, salt, black pepper, and cayenne pepper.
Add tomato paste and water: Add the tomato paste and water, then gently stir until everything is well mixed.
Slow cook: Cover and cook on LOW for 6 to 8 hours.
Serve: Stir, taste, and adjust the salt or cayenne if needed. Serve with your favorite toppings.