Back in 1999, United famously scored two goals in injury time to win 2-1 at the Nou Camp and complete a famous treble.
Substitutes Teddy Sheringham and Ole Gunnar Solskjaer scored from corners to record one of the most dramatic comebacks in the Champions League history.
That game turned out to be Schmeichel's last in a Manchester United shirt before he joined Portuguese side Sporting CP.
On his memories of after the game, the former goalkeeper told talkSPORT: "Ask me what happened after that final whistle in Barcelona and I have no idea. I know what happened as people told me their side of it.
"I've seen video, pictures and heard millions of different stories about it, but I don't have a personal memory of it.
"It was a pressure cooker and you open the lid and it went out. We had a very long period of 14 games that we played in a short space of time. It was every 3.8 days to the cup final.
"Once we got through to the last game and it finished, I just went completely blank."
His former teammate Solskjaer has gone on to become Manchester United manager and has been under pressure in recent weeks.
The Norwegian is approaching three years at the helm at Old Trafford, but is yet to win a trophy.
Despite the lack of silverware, Schmeichel thinks that Solskjaer is doing a good job.
He added: "I think he's working quite well and it's working out quite well for the club as well.
"I don't think there was a question about how many changes needed to be done once he got the job, and he didn't get the job full time to begin with.
"That job and that work is far from finished. I think he's doing really well.
"Again, when we talk about this, it is all headline talk. Ole out and I'm thinking 'fair enough, but give me another name'. Who can go in and who can change the fortunes of Man United in a split second like that.
"I don't see that person out there. I'm very comfortable with Ole as the manager and he's got the Man United DNA that is engraved in him.
"He understands what the club is and what needs to be done. Not just today but also in five years.
"That's important, the continuity of what the club is. Every time we have been hooked on success, we have stayed there for a long time and each time we have gone off it is because that understanding hasn't been there.
"I'm very, very happy with Ole is doing and I see progression."