Tear bread slice into 1-inch pieces. Heat olive oil in a medium skillet over medium heat. Cook bread and almonds in hot oil, stirring often, 1 to 2 minutes or until almonds are fragrant and bread is golden. Stir in garlic, and cook, stirring constantly, 1 minute. Process bread mixture, tomatoes, roasted red bell peppers, smoked paprika, sherry vinegar, salt, and water in a food processor 30 seconds to 1 minute or until smooth.
*Regular paprika may be substituted.