The 28-year-old, who was thrown a lifeline this season by the Magpies after starring in Swan Districts' premiership year in the WAFL, said he believed he had emerged a better person from the dark period in his life.
"It is certainly an experience I don't wish upon anyone," he said on One HD's The Game Plan.
"Your freedom is taken away from you and it's like you're living in another world. It was quite tough, but you look back on it and learn from it, and coming out of there made me a stronger person.
"I am more mature and I've learned not to take things for granted. I think I've come out the other side a better person."
Krakouer said he wasn't resentful about the time he spent in jail and he didn't blame anyone but himself.
"I did the crime, did my time and that's that. I made a mistake and I paid for it, and that's just how it is," he said.
"I've done my time and I've put that behind me."
He spoke about the difficulty of not being able to see his partner and two daughters every day, and said he felt he needed to repay them for their time lost before his August 2009 release.
"Not being able to see my girls every day was the toughest thing. They are my life, they are my all and not being able to see them every day was quite tough," he said.
"Knowing I could see them every week and that was what got me through.
"Being away from them, I just want to make sure I give them the opportunity to repay them. I know they don't want me to, but I want to repay the faith they had in me.
"They stuck by me through the hardest times and I just want to be there for them and do what I can for them."
After keeping his touch while playing for the Wooroloo Prison team in the Mercantile Football Association, Krakouer won the Sandover medal for being the best and fairest player in the WAFL last year, and was best on ground in his side's grand final win.
He agreed the past year had been a whirlwind and admitted he still had to remind himself of how lucky he was to have been given a second chance.
"A fair bit's happened and it certainly was something I didn't expect but it's been a nice 12 months," he said.
"I don't think it will sink in until I finish my footy career. I've heard a few people say it's a remarkable game and I've just dusted it off and said I've been lucky to play my role.
"Certainly I didn't think in my wildest dreams I would be running out in an AFL jumper, playing an AFL game in front of thousands of people 32, 16 months ago, so for it to happen I just have pinch myself and just be very grateful for the opportunity I've got."
