The first goal came to Liverpool when Steven Gerrard's through ball found Baros, but Sol Campbell pulled him down in the penalty area. Danny Murphy converted the spot kick to give the visitors the lead.
Arsenal brought on former Everton striker Francis Jeffers and it was not long before he fell in the Liverpool box after minimal contact from John Arne Riise. Thierry Henry equalised from the spot.
A frantic last few minutes saw Igor Biscan, on for Baros, miss a chance to give Liverpool victory, but Houllier will be happy with the point in what was always going to be a tough game.