Preheat & Prep: Preheat your oven to 350°F (175°C). Lightly grease a 9x13-inch baking dish with non-stick spray.
Mix the Beef: In a large bowl, gently mix together the ground beef, crushed saltine crackers, 1 cup of milk, garlic powder, onion powder, paprika, Italian seasoning, cayenne, salt, and pepper. Do not overmix.
Form Patties: Divide the mixture and shape into 6 thick, oval patties. Press a slight dimple into the center of each.
Dredge: Place the flour in a shallow dish and season with a pinch of salt and pepper. Lightly dredge each patty in the flour, shaking off the excess.
Sear: Heat the butter and olive oil in a large skillet over medium-high heat. Sear the patties for 3-4 minutes per side until a golden crust forms (they will not be fully cooked yet). Transfer the seared patties to the prepared baking dish.
Make Gravy Base: In a medium bowl, whisk together the cream of mushroom soup, 1 ½ cups of milk, and fresh parsley.
Bake: Pour the gravy mixture evenly over the steaks in the baking dish. Cover tightly with aluminum foil. Bake for 40-45 minutes, or until the steaks are fully cooked through and the gravy is hot and bubbly.
Serve: Let rest for 5 minutes, then serve hot over a bed of mashed potatoes or buttered egg noodles.