The former English midfielder played for seven years in red, making nearly 200 Premier League appearances for the club he supported as a child.
During this period, he played a vital role in a multitude of club triumphs, including FA Cup and League Cup victories.
The pinnacle was in 2001 when the club beat Alaves to claim their first European trophy, the UEFA Cup, in 17 years.
But three years later, Murphy left after being warned by new boss Rafa Benitez that his playing time would begin to decrease.
And to this day his decision to leave remains his only big regret.
“I feel very happy to have played for the club I loved and supported while growing up,” he told BBC Sport.
“That’s all I ever wanted to do, winning trophies for the team you love is very surreal.
“It is probably only when you look back now, looking back, that you realize its enormity.
“The only thing for me is that the year I left, they won the Champions League and maybe I could have stayed and fought [Rafa].
“It was a difficult decision for me at the time because I was so used to playing and I loved playing.
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“Rafa made it clear to me more than once that I would not be playing, so I had a difficult choice to make in a very short period of time [of time].
“People say they have no regrets, but I do.” I regret not having stayed.
He added, “It has been a wonderful seven years for me and being part of the Liverpool family is now very special to me. “