The Reds boss is aware that the cup competitions take on a large significance now that dreams of the title have long been shattered. Houllier feels that his side can still have a season to remember.
He said: "The season is far from over for us. We were in exactly the same position in 2001 and, in the end it was a season where we created history. We won the Worthington Cup and that sparked a wonderful run. We qualified for the Champions League and also lifted the FA Cup and UEFA Cup.
"Things haven't gone as well as expected this season, but I always expected the team to have a dip. But we are in one final and challenging for two other cups and still have the chance to qualify for the Champions League.
"Can the treble be achieved again? I don't know. But the great thing about this game is that anything is possible."