From: Binder Dundat on
Cooking with octopus is a bit trickier than cooking with squid, but if
you follow these octopus recipes you can enjoy the tender, rich flavor
of octopus.
Spanish Braised Octopus in Paprika Sauce
A recipe for pulpo a la gallega, a Spanish braised octopus recipe with
a garlic-paprika sauce; you could also use calamari for this recipe.
Polpi in Umido -- Italian Octopus Stewed in Wine and Tomatoes
This recipe is for the Southern Italian polpi in umido, or stewed
octopus in white wine and tomatoes. Of the many Italian octopus
recipes, this is among my favorite.

May people say you should have white wine with Octopus, I prefer a
Chianti or a German Pilsner myself.