Latics pulled off perhaps the cup shock of last season to eliminate the Reds, for whom Luis Suarez and Daniel Sturridge both started, when two goals from the now-departed Matt Smith saw them progress.
Their quest to enjoy similar success starts this Saturday when Wolves, second in Sky Bet League One, travel to Lee Johnson's side hoping for a repeat of their win in the Midlands last month.
Montano claims there is plenty of belief for a club guided by the youngest manager in the Football League.
"We can definitely beat anyone on our day," he told Press Association Sport.
"We've proved that we can play better than every other team in the league so far. Possession-wise, pressing, everything. We've just been unlucky in front of goal but hopefully that will turn around, starting at Wolves.
"It's a young squad so it can go either way, it can go terribly bad or it can go amazingly and it's gone well so far.
"We've got a good young team, a good manager that has put trust in all of us and we're playing for him. We've been doing what he's asked us to do we've just been unlucky, so hopefully the luck will turn soon."
Injury kept Montano out of the cup clashes against Forest, Liverpool and Everton so there is likely to be an extra incentive for him to be in the third round when the bigger names join the competition.
For now, though, the Colombian-born winger is simply focusing on a return to fitness after recently undergoing an operation to have a cyst drained.
He added: "Last year I played in the first game against Kidderminster, I scored as well, and then I got injured which meant I missed the big games.
"I'm just back from an injury and I just want to stay injury-free and then hopefully we can have a good run in the cup."