Dealing with failure

I have a hard time dealing with failure. I am guessing this is the same with most others as well. I go through the following chain of thought: why? why me? what did I do wrong? what could I have done instead? is there a way to salvage the situation?

Simultaneously, I also go through another set of thoughts: is this a precursor of things to come? am I destined to fail at other new things or even my current endeavors?

Finally, I go through depression at the failure, frustrated at my inability to do anything about it, fearful of the current and future.

All in all, it is a pretty miserable time. I tend to avoid thinking about the failure as it is too painful, and instead I absorb myself in activities which can distract me.

Meditation suddenly becomes extremely hard. To sit and focus on the breath is instead focusing on the failure instead.

I am hoping expressing these thoughts maybe helps me take the sting out of the failure, and helps me recover from it.