Carrragher played 737 games for Liverpool and while his trophy cabinet doesn't feature a Premier League winners' medal, he played an integral part in the side Rafa Benitez guided to Champions League glory 13 years ago.
Former Reds defender Carragher was in the side that toppled AC Milan on that famous night in Istanbul, and he also appeared in the Liverpool side the last time they were involved in the knockout stages of the Champions League in 2009.
Liverpool legend is convinced the Spurs are the main threat because Mauricio Pochettino's squad is always doing great in the second half of the season.
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Brazilian Tiquinho Soares scored twice as Porto warmed up for Wednesday's Champions League tie against Liverpool with a 4-0 thumping of Chaves on Sunday to retake top spot in Portugal from Benfica.
"It will be tough against Porto but it's a winnable tie and if we get through that who knows what could happen".
Mohamed Salah has been integral to Liverpool's success this season.
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The Reds, who are now third in the Premier League, travel to Porto in the first leg of their round-of-sixteen clash on February 14 before the return fixture three weeks later.
'It has been too long, ' said Carragher.
"Now only when you've been away for so long, you appreciate how big a thing it is".
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"I'm going over to Portugal myself next week and hopefully we can get a good result and see where it takes us".