Cut onion really tiny and add butter, onion, and garlic to a large pot on medium heat. Stir occasionally as you continue to chop.
Shred the carrot and add it to the pot.
Dice the jalapeno and green pepper and add them to the vegetables.
Cut the chicken breasts up into bite sized pieces. Move the vegetables to the side in the pot and add the chicken. Then sprinkle all of the black pepper, onion powder, garlic powder, and paprika on top and stir to combine. Let the chicken cook until no longer pink before the next step.
While the chicken is cooking open the cans of beans and green chilis. Drain and rinse both cans of beans until the water runs clear.
Once the outside of the chicken has slightly browned add the chilis, beans, water, chicken bullion, sherry, and milk and bring to a simmer.
Let simmer for 15-20 minutes, or until the beans are as tender as you would like them.
Just before serving stir in the cream and sour cream. Serve with a dollop of sour cream in each bowl with come cheese sprinkled on top!