Sterling gave the ball away at a crucial time, and had his penalty saved in the shoot-out against Middlesbrough.
Liverpool were leading 2-1 in extra-time after Suso had put the Reds in front. All Liverpool needed to do was close the game out but Sterling gave the ball away in the middle of the park, which led to Middlesbrough winning a penalty as a result of a foul from Kolo Toure. Patrick Bamford converted the spot-kick to take it to penalties.
Sterling stepped up to take the fifth penalty for Liverpool, but had his attempt saved - allowing for an epic shoot-out to take place, where the Reds ultimately ended up winning 14-13 to book their place in the fourth round of the League Cup against Swansea City.
He told the official Liverpool website: "It was one of the most nightmarish 10 minutes I've had in a long while, but it's part of a learning curve. The most important thing is that the team won.
"That is what your teammates are for - to help you get out of bad situations. That's what they did against Middlesbrough, so congratulations to the whole team."
The important thing for Sterling is that he puts that spell in the game behind him, having picked up from where he finished last term. So far he is the Reds' top goalscorer and was recently awarded the club's Player of the Month award for August.
The perfect way for him to put that behind him is by putting in an impressive display against Everton in this weekend's Merseyside derby.
But he seems to have put things behind him somewhat, as he is hoping the Reds can lift some silverware this season. With the side still in the League Cup, it is a realistic target.
He added: "To get silverware back at Anfield is one of the main objectives this season, as well as doing well in the league. Hopefully we can win a trophy this season."