Any time you apply enough heat to a bolt to soften the steel make sure you use a heat sink inside the bolt and also wet cloths to protect the locking lugs.
Ken K's method will work. Other ways are to forge down the bolt handle (the method I prefer but which involves special equipment), cutting off the old handle and welding a new one on, or cutting off the old handle and drilling and tapping the bolt to screw the new handle on. I consider the last to be the least desireable because it does not (IMHO) look good, though it will work.
Jim