The Londoners were on course for a valuable three points when Belgian defender Jan Vertonghen struck twice either side of half-time after Luis Suarez gave the hosts an early lead.
But Stewart Downing capitalised on woeful defending to equalise and then Steven Gerrard put a dent in Spurs' bid to qualify for the UEFA Champions League with the winner from the penalty spot.
Carragher told Sky Sports: "I think the turnabout was the second goal, really. Tottenham were playing well at the start of the second half and went ahead and it's not something that we've done too often this season, come from behind, so it's a massive win for us.
"We showed character and quality to beat a top team like Tottenham.
The 35-year-old also praised man of the match Luis Suarez for his contribution, saying: "I've been saying it for how long that Luis has been a top player and we're delighted to have him.
"There's a lot of talk of him, (Gareth) Bale and (Robin) van Persie for the Player of the Year award but the two today are top players. Bale showed some tremendous touches but he (Suarez) is man of the match so he's obviously come out on top today."
But Carragher is unsure whether Brendan Rodgers' side can qualify for the Champions League, despite closing the gap on fourth-placed Chelsea to seven points.
"It's something we'd love to get, but at the moment we're not thinking about that," he said. "We're winning games and just concentrating on the next game, so I'd say the way we're playing, we should just carry and playing and see where we end up at the end of the season."