Mark Hughes believed Liverpool were "incredibly fortunate" to beat Stoke City in the Capital One Cup semi-final.
Trailing 1-0 from the first-leg, Marko Arnautovic - despite appearing to be in an offside position - netted on the stroke of half-time for Stoke, which was the only goal of the game.
Missed spot-kicks by Peter Crouch and Emre Can took the shootout to sudden death where Marc Muniesa was denied by a wonderful Mignolet save and Joe Allen netted the winning penalty.
Hughes said his team deserved more as his wait to manage in a major final at Wembley goes on.
Mark Hughes praised his players' effort and said he was proud of them
"I think the reaction of us all is pure disappointment because on the night we were by far the better team," Hughes told Stoke's official website.
"We came here, under difficult circumstances whereby we had to win the game, and won it.
"Obviously once it goes to penalties it can go either way and heartbreakingly for us it has gone their way.
Jurgen Klopp described Liverpool's progression to the final as a special moment
"You can see by the reaction of their fans and their players that they have been incredibly fortunate to progress to the final.
"These sort of things happen in sport and football unfortunately, but that still doesn't make it any easier to take."
Hughes refused to attribute any blame to Crouch for his missed kick, instead highlighting his overall contribution to the match.
He added: "I can highlight Crouchie. I haven't given him a great deal of football this year but I though he was great.
"We just couldn't get that second goal and I think Liverpool would be honest to say they were grateful to get to penalties.
"I thought we were more likely to score but unfortunately we are not the ones going to Wembley."