The Scouse pair have been at the club since they were schoolboys and, with them both in their early 30s, they were keen not to allow the chance to end a six-year trophy drought slip through their fingers.
"It has been too long," said the 34-year-old centre-back.
"We're coming to the latter stages of our career, myself and Stevie, and because we have gone so long without winning anything you don't want to finish your career going seven or eight years without.
"It was a relief for both of us to get a trophy, for ourselves and the club.
"It maybe takes the pressure off now for the next year or two and we can relax and go on to try to win more trophies, hopefully bigger trophies."
The last trophy Liverpool won prior to Sunday's victory over Cardiff was the 2006 FA Cup but that was at the Millennium Stadium, so for Carragher and Gerrard playing a final at Wembley for their club was extra special.
"It was a big day for everyone. For a lot of players it was their first big game and first trophy, which is great," he told talkSPORT.
"But even for people like me and Stevie to play at Wembley for Liverpool was always something we dreamt of doing.
"Thankfully we've done it now and we have got a trophy as well and hopefully we can go there again sometime this season (in the FA Cup)."
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