The `Rocky` actor - who was married to the actress from 1985 until 1987 - admits he had a "temporary form of insanity" during their relationship.
Sylvester has been happily married to former model Jennifer Flavin since 1997, and the pair caught footage of his ex-lover when she appeared reality show `Celebrity Rehab with Dr. Drew` in 2008 for problems with alcoholism.
He said: "I thought I was watching an old home movie. I sat on the sofa with Jennifer and of course, she pauses it and says: `What were you thinking?` I go, `I wasn`t. It was an out-of-body experience. I`ve concluded that love is a temporary form of insanity and we should cut each other some slack.`
"I consider my life 10 per cent on target, and 90 per cent mistakes. But those 10 per cent counted."
Despite his past regrets, Sylvester is very settled with current spouse - who he has three daughters with - and has never been happier.
He explained to the Daily Telegraph newspaper: "I`ve never had more fun. I learnt that from my wife. I never did learn it from any other relationship. In fact, just the opposite. It took me 19 years to realise she`s always right. I realised that women have a knack, at least Jennifer, for making incredibly erudite, wise, smart decisions. I always leap without looking. She always looks and never leaps. She`s incredibly safe. So now finally, I say: `Honey, you make all the decisions. Done, done, done. I trust you.` I never had that before. Ever."
Sylvester also has two grown-up sons, Sage Moonblood and Seargeoh from his first marriage to Sasha Czack back in 1974.