Dave Jones conceded that the Owls were beaten by the better side at Hillsborough on Saturday.
Promotion-chasing Leicester inflicted a 2-0 defeat on Wednesday, who Jones said were underpar:
“Leicester are a very good side with some very good players and they are a better side than us.
“They are an established side in the Championship and we are not at that level yet.
“But we didn’t help ourselves today because we were outthought and we didn’t create the chances that we normally do and that was disappointing.
“The better teams in this division will pick you off when you are not at your best and that is what we saw today.”
On an afternoon of few bright spots, Jones said his defence was solid, and in particular recalled skipper Martin Taylor and debutant Jeremy Helan.
He added: “The defence looked sound today but let down by what happened in front of those players.
“I thought Martin did well. He is a very experienced defender at this level and didn’t get off to the best of starts when he came here and people tend to remember your first game.
“But today he showed what he can do, making some timely tackles.
“Jeremy did well too, that was a good debut and he can be pleased with his performance.
“I thought Mamady did OK, he has 70 minutes or so under the belt and that will do him the world of good.”
The Owls take on Watford on Tuesday and Jones insists everyone must stick together as the team go in pursuit of three points to help climb the Championship table.
He said: “We have a massive game on Tuesday but they are all massive at this football club.
“The players have to learn and today was another part of that education. But it’s no good hammering them, they are an honest group and they will learn.
“Everyone has to stick together, that is the only way to get out of any kind of trouble.”