This is indeed ONE of the most frequently asked questions in Human Resource interviews. Your answer to this question should not look overconfident. At the same TIME, dealing with mistakes does not SEEM unreliable. It is always a good practice, to be honest. Some of the advantages that can be mentioned in the interview are as follows: 

• I am a team player who is focused and wants to learn new THINGS every day.
• I have good communication skills.
• My ability to cope with pressure and be calm in stressful situations makes me stand out.
• I have excellent leadership skills which might help me in the long run.

Let us now take a look at some of the shortcomings that can be mentioned in the interview:

• I often have self-doubt when I am new to some technology or environment.
• I am self-critical.
• I have stage fear (fear of speaking in front of a large crowd).

It is definitely important to admit mistakes, but it is also important to explain how you worked to correct them. This will have an impression on the interviewer that you are someone who is CONSTANTLY trying to improve.