Ahead of their game against United on Saturday (14 October), Liverpool will unveil their new stand, named after Dalglish, who guided Liverpool to three league titles and two FA Cups between 1985 and 1991, before winning the League Cup in 2012 during his second spell at the club.
While that was Liverpool's first trophy in six years, the Reds have not lifted another piece of silverware since. Under Klopp, who celebrated two years in charge of the club last week, Liverpool have reached two finals and have returned to the Champions League but have endured a difficult start to the campaign and go into the weekend seven points behind the two Manchester clubs.
However, Dalglish believes the former Borussia Dortmund manager will bring silverware back to Anfield if given the opportunity.
"I think they have the perfect guy for the football club," he told the Liverpool Echo. "In all the matches I've seen this season, they've certainly done enough to win. If the players believe in themselves, they will certainly turn it around. There is nothing better than starting that on Saturday."
The former Liverpool manager added the five-time European Cup winners could do worse than taking a leaf out of their arch-rivals' book, who stuck by Ferguson even when his spell at Old Trafford got off to a stuttering start.
The Scot took charge of United in November 1986 but only lifted his first trophy in May 1990 when United clinched the FA Cup after beating Crystal Palace in the final after a replay. Prior to that, Ferguson had endured harsh criticism but the success proved to be the first stepping stone towards turning United into the most dominant English club of the last two decades.
"Fergie never did it in the 1980s," said Dalglish. "They allowed him some grace and I am sure they are delighted they did. They never lived to regret it."
While Liverpool have developed into a potent attacking threat since Klopp's arrival, their back four has come under intense criticism for a series of mistakes that have cost the team points. The Merseysiders have already conceded 12 goals in their first seven Premier League games, as many as Watford, Leicester and Everton, while only West Ham and bottom-of-the-table Crystal Palace have conceded more.
Earlier this week, Alan Shearer argued Liverpool have in fact stalled under the German and have not improved since Klopp's replaced Brendan Rodgers. However, Dalglish dismissed the suggestion, insisting criticism of Klopp was borne out of the modern attitude of having an instant solution to most problems.
"People are used to the instant answer or solution but it doesn't work in football," he explained. "A wee bit of patience doesn't go amiss for anyone who wants to be successful. If you buy well enough and spend well enough, then you can compete. You don't have to do it in one transfer window, it may take four or five, but no matter. It took Fergie a long time to do it at Man Utd, so I don't see what the impatience is about at other places."