He said: "Michael Owen was one of the country's top strikers before last night and nothing has changed today.
"Even the best players can have nights like that. I remember having a few myself in a Red shirt.
"If he had scored one of those chances he got in the first half he would have had a hat-trick. Michael is used to getting flak but when he does he comes back a better and stronger player."
The Liverpool legend also feels that the Reds will soon start to convert their chances and gain some comfortable victories.
He said: I honestly believe we are going to give somebody a real hammering in the next couple of weeks. The number of chances that are being created, it is bound to click one day.
"As the manager said, going out could prove a blessing in disguise for the team. Sometimes fate is against you.
"You need luck to do well in the Cup and some seasons a side's name is on the trophy. I wouldn't be surprised to see Leeds go on and win it now.
"They have avoided a trip to Anfield in the next round and the way things are going for them, they could capitalise on that piece of good luck."