Preheat your oven to 350°F (175°C) and line a cupcake tray with cupcake liners. In a mixing bowl, cream together unsalted butter and sugar until light and fluffy.

Add eggs and vanilla extract, mixing well until fully combined.

In a separate bowl, whisk together flour, cocoa powder, baking soda, and salt. Gradually mix these into the wet mixture, alternating with water and milk.

Fill each liner two-thirds full with batter. Bake for 18-20 minutes or until a toothpick comes out clean. Cool in the tray for 5 minutes.

For the frosting, beat salted butter until creamy, then add powdered sugar, cocoa powder, pretzel crumbs, and vanilla. Mix well.

For the ganache, heat heavy cream until just about to simmer, then pour it over chocolate chips. Let sit for 1 minute, then stir until smooth.

Once cupcakes are cool, frost with the pretzel frosting, drizzle ganache on top, and decorate with sprinkles and chocolate-covered pretzels.