The United boss admitted that the club should have won the competition more than twice, having lifted the trophy in 1999 and 2008, and believes that the return to fitness of his first-choice defenders means that they are now good enough to win it again.
"If I can get my defenders back, we'll have a great chance," said Ferguson.
"It is a frustration that we have not won the Champions League more often, especially when I think of the times we've thrown it away. But you can't let it eat away at you. You've always got the next year. The final is at Wembley this season and that's a great incentive for us.
"The objective is to get through to the knock-out rounds. We want to do it the right way."
United entertain Portuguese side Braga in the Champions League on Tuesday night.