Preheat the oven to 350°F/180°C. Line a square 8×8 baking pan with parchment paper and set it aside.
Brown the butter: Melt the butter in a medium sized pan over medium heat. Once it melts, it will crackle, then become foamy – continue mixing the butter while this happens to prevent burning. The butter will go from melted to golden brown quickly, and you'll know it's almost done when the aroma of browned butter arrives. The whole process should take about 5 minutes! Once golden, remove from heat and transfer to a glass bowl. Let the butter cool for 30 minutes while you prep on the rest of the recipe.
Whisk together the slightly cooled browned butter and both sugars. Add in egg and vanilla and continue whisking.
1/2 cup butter, 1/4 cup white sugar, 1/4 cup brown sugar, 1 tbsp vanilla, 1 egg
Using a spatula, fold in the flour and baking soda. The dough will be soft, don't over-mix!
1/2 tsp baking soda, 1 cup all-purpose flour
Toss in the chocolate chips and M&M's and mix.
1/3 cup mini chocolate chips, 1/3 cup Christmas M&M's
Press into prepared pan. Bake for 18-20 minutes until the edges are golden brown. The middle will look slightly puffy. Allow to cool in pan, slice, and enjoy!