The Avenger: Inzaghi double settles score and Rafa rips into his losers

Crestfallen Gerrard, who had starred when Liverpool beat Milan after trailing 3-0 two years ago, said: "Then, I was absolutely elated. This time, I'm devastated. It's heartbreaking."

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Come in No 9: Filippo Inzaghi celebrates his opening goal in front of ecstatic AC Milan fan in Athens last night

And after two Filippo Inzaghi goals had gained revenge for Milan last night, Liverpool boss Benitez also accused referee Herbert Fandel of cutting short another stirring comeback after blowing the final whistle early, with AC Milan hanging on to a 2-1 lead, following an 89th-minute header from Holland striker Dirk Kuyt after a flick-on by Daniel Agger.

But Benitez was far more concerned about further damning evidence that his current players are unable to deliver on the scale demanded by himself and new American owners Tom Hicks and George Gillett.

Benitez had warned, even before his side's bid for a sixth European crown, that he was heading for a hectic summer in the transfer market.

After seeing them control much of a low-key final but seldom threaten near goal, he spelled out the extent of a rebuilding programme that will be driven by the desperate need for a proven goalscorer.

He said: "We were in charge for long periods, but if you don't take your chances, you are going to struggle. We need to improve, and we will. Maybe, now, it has to be more than one step at a time if we are to be contenders for all the major honours.

"I could not fault my players for effort, and I thank them for that. They gave everything but still fell short, so that tells you how difficult it is at the moment to achieve the things we are aiming for.

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Euro stars: AC Milan celebrate after being crowned champions of Europe

"Perhaps we now have to take two steps at a time if we want to get closer to Manchester United and Chelsea, and I hope to get the backing needed to take those steps.

"You can't change things in one or two weeks, but you could see tonight what is needed.

"Sometimes you ask a player to play an isolated role and it is not easy. But when you see some players in that position controlling the ball and dribbling past defenders, you know that is what you want for your team."

The tone of Benitez's declaration of intent confirms that he will be lobbying owners Gillett and Hicks for the sort of funds needed for the likes of goalscorers Fernando Torres, Samuel Eto'o, David Villa or Darren Bent up front, Daniel Alves in midfield and Gabi Milito at the back.

Liverpool's dream of drawing level with Milan on six European titles perished amid bitter controversy as Benitez remonstrated with the fourth official and even UEFA president Michel Platini about the time added on at the end.

Despite signalling three extra minutes and stopping play for Milan's second substitution soon after, Fandel allowed just two minutes 41 seconds before blowing for time.

Benitez was still complaining when he climbed the steps to receive his medal from Platini and he clearly felt his side had been robbed as they pushed for an equaliser that could have proved decisive against a tiring Milan side.

"It was clear it finished early and it could have made a difference because we were gaining momentum," he said.

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Gerrard is inconsolable with his losers' medal

"I had confidence we could complete the fightback, just as we did in Istanbul, and it came as a surprise when the whistle went.

"I don't want to make any excuses and I congratulate Carlo Ancelotti and his players, but it was a very disappointing way to lose the game.

"The full allotted time could have changed things in our favour, but it doesn't alter the fact that we should have scored the goals we needed in the 90 minutes."

Skipper Gerrard added: "At the moment, my heart is in two pieces. This the lowest point of my career, but it is how you bounce back that counts.

"The finals I've lost in my career have made me stronger as a person and we have to make sure we're better as a team for the experience.

"These games are decided on small details and the first goal was a real hammer blow. As a team, we never got the rub of the green, but we don't want to make excuses. We started well and were in control, just as we like to be.

"But in those situations you've got to score. They got the first goal with a bit of luck and that was a big lift for them."

Inzaghi, who has now scored 38 Champions League goals, insisted his opening strike was planned.

He said: "I managed to do it against Empoli in the derby last year. Every now and again we manage to pull it off. We rehearse it with the manager.

"It's deeply rewarding for me, but the most important thing was to win this trophy.

"The coaches and the players work very closely together and it is great what we have achieved."