Failure

I have had conversations in my mind regarding this topic for at least a week now.  I'm curious to know others' perception of this word - failure.
As funny as it may sound, I heard something that resonated with me from none other than Jay-Z.  Yes, you know he and I go way back to when he was just Jay.  Kidding, kidding.  I really did get this from Jay-Z though.  He was being interviewed by Oprah and yes, I do think she is a phenomenal woman.  Very impressive lady.  He said that he learned more from failure than success.  And for some reason that statement struck me. 
To learn more from failure than success?  Personally, I've viewed some of my failures as areas that need to be hidden behind a mask or swept under a rug or simply ignored.  I'm uncertain if I've ever taken them out, examined them as a coroner would a body for autopsy.  "The cause of death for this particular project is..."  Never done it.  I get the sense that fear propelled me forward.  "Don't look back", "keep going", "fake it til you make it". 
So receiving my words of wisdom from Jay-Z I examined my latest "failure" or what I interpreted as a failure to see what I could learn from it. What did I learn from it?
I think I learned that my failure moved me into an arena of life that is better suited for me but I was too afraid to make that move.  I believe the failure showed me I need to exchange some "I can do that"s for some "let me improve what already exists".  Also, I feel like I'm coming to terms with the fact that I'm still okay and still a good person even if I have failed.  I will not wither up and die because my plans did not turn out the way I had hoped.
So, let me have it... how do you handle failure?  What is it's meaning to you?