Heat oven to 375 degrees. Place chicken breasts in a glass baking dish. In a skillet mix apricot preserves, chopped chili pepper, and cracked pepper--heat until warmed through. Sprinkle chicken with chili powder and baste with a light coating of apricot sauce. Bake for 35 minutes. Coat chicken with the rest of the sauce and bake for an additional 10 minutes or until chicken is done.