The Reds are currently in seventh place in the Premier League table after losing three of their opening nine games of the campaign.
They are also struggling in the Champions League, with two defeats in Group B putting them at risk of being eliminated before the last 16.
However, former Liverpool striker Fowler believes that manager Brendan Rodgers is more than capable of helping the team to regain the form that saw them light up the top flight last term.
"It's not quite clicked but I think we will do," the 39-year-old told Sky Sports News. "I think we are not a million miles away.
"I'm very confident in the squad that Brendan has put together and his ethos, and his mentality. I think he will get it right. I don't think he will - I know he will - he's such a good manager."
Liverpool are back in action tonight (Tuesday) when they host Swansea City in the fourth round of the League Cup.