Heat a large heavy-bottomed skillet over medium-low heat.
Add the butter and allow it to melt, about 2 minutes.
Add the sliced onions and kosher salt. Mix so all of the onions become evenly coated with butter.
Cook the onions, stirring occasionally, for 20-25 minutes or until they are dark golden brown. If they start to stick to the bottom of the pan at any time, add a few tablespoons of water. Make sure not to rush the caramelization process and keep the heat set at medium-low.
Once the onions are caramelized, allow them to cool to room temperature, about 20 minutes.
In a large bowl, mix the sour cream and softened cream cheese together until smooth. This can also be done in the bowl of a stand mixer fitted with the paddle attachment.
Next add the caramelized onions, chives, parsley, and garlic powder. Stir to combine and season with salt and pepper to taste.
Serve the french onion dip with fresh vegetables or chips and enjoy.
Store any leftover dip in an airtight container in the fridge for up to two days.