Ferguson has masterminded successive promotions at London Road to drag Posh from League Two to the second tier but after Tuesday's clash at the Walkers Stadium finished all square, he finds his side languishing in 21st place in the early table.
Posh went seven games without a win at the beginning of the 1988-89 season and have now matched that club record despite playing some fine football during the opening period.
George Boyd's penalty had Peterborough ahead in the 32nd minute after a period of total domination but the home side rallied to level through Matty Fryatt's penalty after the break.
Ferguson remains confident of success at this level but knows that victory at home to Reading is now essential.
He said: "Seven games into the league without a win is embarrassing and I thank our fans for their support as they must be as sick of it as I am.
"There is only so many times you can say that we have played well without winning and it is time for us to play rubbish and win 1-0.
"But now we have Reading at home on Saturday and it is vital that we get this first win.
"I am confident that we can handle this division but the longer it goes without a win people will stop listening to me."
Boyd stepped up and steered his left-footed strike confidently into the corner after Wayne Brown had fouled Aaron Mclean but the goal kick-started Leicester into belated life.
They levelled when Paul Gallagher hit the crossbar with a chip and when right-back Robbie Neilson reacted first to put the ball back across the goal Tom Williams was adjudged to have blocked with his hand.
Fryatt confidently dispatched the kick low into the corner for his sixth goal of the season and leave Ferguson frustrated.
He said: "We dominated the first half and we should have been further than one up. In fact the game should have been over.
"We had a lot of chances and just before half-time we had a breakaway where we were four on one.
"You have to score from opportunities like that and it cost us.
"If we had gone 2-0 up at the break you would bank on us to hold on.
"But we need more composure in our game."
Leicester manager Nigel Pearson conceded that his side were lucky to only be 1-0 down at the break but was pleased with the response in the second period.
Pearson brought on Aleksandar Tunchev and Andy King at half-time and a change in formation led to a much-improved display.
He said: "It was a fair result.
"They were better in the first half and knocked us out of our stride.
"We changed our shape to get back in the game and we passed it much better.
"Their goalkeeper was a lot busier than ours at the end but I can't begrudge them something from the game.
"At the break we were relieved to be 1-0 down as they played very well so we needed to regroup."