The musician told ITV News: "You're the father who is responsible and clearly failed.
"For anybody watching, who has a dead kid and you're a parent. You go back, you go back, you go back, you go back, you go back, you go over, you go over.
"What could you have done? You do as much as you can."
Mum-of-two Peaches was found dead by her husband Tom Cohen at their home in Wrotham, Kent, on April 7. She was 25.
An inquest heard that Peaches had started using heroin again in February, after taking the substitute drug methadone for two and a half years.
Sir Bob said he had been aware of his daughter's use of heroin, telling ITV: "Course I knew about it and we did more than talk about it."
He said that although the 25-year-old, who had worked as a journalist, model and television presenter, had been 'super bright', there was also a frantic element to her character.
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He said: "She had a 'very errant mind that could focus intensely on a book which she would consume and just absorb it.
"But the rest was a franticness – she knew what life was supposed to be and God bless her she tried very hard to get there. And she didn't make it."
The pop star said performing with the Boomtown Rats had helped him to escape the grief of losing his daughter.
He said: "I put on my snakeskin suit and I can be this other thing.
"It is utterly cathartic. Those two hours and I am drained. In every sense it empties, it drains my mind. On stage I'm lost in this thing and it's a very brief respite."
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