In a deep skillet combine 3/4 cup of the sugar and the water, cook the mixture over moderately high heat, stirring constantly with a fork, until the sugar is dissolved completely, and boil the syrup, undisturbed, for 8 to 10 minutes, or until it is a golden caramel. Ladle the caramel into eight 1/2-cup ramekins, dividing it evenly and tilting and rotating the ramekins carefully to coat the bottoms, and set the ramekins in a large baking pan. In a bowl whisk together the eggs, the Port, the cream, and the remaining 1-1/4 cups sugar, divide the mixture among the ramekins, and add enough boiling water to the baking pan to reach halfway up the sides of the ramekins. Bake the flans in the middle of a preheated 325° F. oven for 35 to 40 minutes, or until a tester inserted 1/2 inch from the edge comes out clean. Remove the ramekins from the pan, let the flans cool completely in the ramekins on a rack, and chill them, covered, for at least 4 hours and up to 24 hours. Run a small thin knife around each flan and invert the flans onto dessert plates. Serves 8. dess105