Trailing 2-0 form their first leg Champions League Round of 16 tie against the Blaugrana, the Gunners were at the receiving end of a 3-1 defeat at Camp Nou, making it three times in the past six seasons that they have been dumped out of the tournament by the Spanish side.
And despite yet another humbling defeat, Wenger felt this was his side’s best chance to overcome their nemesis, who are now unbeaten in 38 straight matches.
"The regret I have from the two games against Barcelona is that maybe they were more beatable than ever before when we played against them," Wenger said.
"They are not so much out of reach."
Arsenal now shift focus back to League matters, where they lie third, 11 points adrift of leaders Leicester City with nine matches left to play, yet just three points ahead of fifth-placed West Ham United.
"We need to look over our shoulders because it's very tight," Wenger said.
"I believe the Premier League is far from over, but we also have to look behind us because things can change very quickly.
"We want to move forward, but I'm conscious that our position is not secure, even where we are. Things will change between now and the end of the season, that's for sure."
Arsenal take on Everton in their EPL clash on Saturday afternoon.