A huge part of life is making your own mistakes and learning from them. If you are too busy trying to conceal, deny and hide things that you have done wrong then you will miss valuable opportunities to learn from them and develop life skills.
Bouncing back allows us to be taken more seriously as aposed to scape-goating. Trying to shift the blame to someone else is not an advisable course of action and will make you look unprofessional in a work environment. Not only that, but it will make you look dishonest and conniving which are generally frowned upon qualities and certainly not ones which will earn you respect.
Admitting a mistake and dealing with the consequences can be embarrassing and painful. There could be some repercussions such as coming clean with the people you love and possibly causing them hurt, but confessing your skins is generally the best decision. Your memory will hold onto things that you have done wrong and will probably plague you until you own up. Owning up to mistakes allows us to progress in life as we learn how to do things better next time.