Bring chicken broth and water to a simmer in a large saucepan. Reduce heat to simmer, and cover.
In a dutch oven or large (at least 8 qt) pot, melt butter over medium heat. Add onion and cook until softened. Add garlic.
Add rice to post and cook, stirring frequently (about 3-5 minutes) or until edges of rice are translucent.
Pour in the wine and continue to stir until absorbed (about 3 minutes). Add 4-5 cups of chicken broth, reduce to a simmer, cover pot and stir occasionally until fully absorbed (about 15 minutes).
Add remaining broth, salt, and pepper. Stir gently. Risotto should be creamy. Sprinkle on parmesan and stir until incorporated. Add additional chicken broth if you want a looser consistency.
Garnish with chopped chives or basil. Add additional parmesan, salt and pepper to taste, if needed.