In a medium-sized bowl, combine bacon, cream cheese, shredded sharp cheddar cheese, shredded white Mexican cheese, salt, chili powder, garlic powder, and liquid smoke.
Cut the stems off the peppers and slice in half lengthwise, scooping out all of the seeds. Scoop 1-2 tablespoons of cheese mixture into jalapeños and roll them in the panko bread crumbs. Bake at 300*F for 20-30 minutes (the longer you cook them, the milder they become). Serve with ranch dressing or sour cream.