"I think that defeat can make you more determined," said Murphy, who took over the on-field captaincy at Welford Road in the absence of Martin Corry and Aaron Mauger.
"Anything that's happened in the past you try to put behind you but the disappointment of losing it was massive and the guys who've played that in that final definitely won't want to have the same feeling come 7 o'clock on Saturday evening."
A Heineken Cup winner with Leicester in 2001 and 2002, Murphy knows the value of Heineken Cup glory better than most.
With five finals appearances now to their name, the Tigers have long seen the Heineken Cup as their Holy Grail. It's been seven long years since Leicester were last crowned Kings of Europe and Murphy is determined to ensure they bring that drought to an end this evening.
"The Heineken Cup is huge," added the 2005 Lion.
"It's the premier competition in Europe, if not the world. Having spoken to players all over the world, they have that interest in it. It's massive.
"We're playing against a Leinster side who thoroughly deserve to be in the final. Their performance in the semi-final was tremendous and they fully deserve the favourites tag.
"We've been here before. We've lost in the Heineken Cup Final before and it's not a very nice feeling. Hopefully we won't have that feeling this time around."