Trying and failing is an essential part of every person's life and happens every day. Failing is in itself a very complicated concept because even though it is obviously a bad thing, it helps develop whoever failed and it teaches a lesson that can help them mature and grow. Many famous people will tell you that failing was essential in their success, and that they did not get to the top easily. For example, Thomas Edison invented the light bulb after trying everything (even a lemon peel) and failing. Everyone encounters obstacles, but it is how you react to misfortune and failure that truly shows your character. If one is able to learn from failure and grow from it, then they are getting something out of it. Also, the trying part of trying and failing is significant as well. This is because if you try and fail you may have failed because of a lack of effort - one's "try" was lackluster. Learning to try with everything you've got is an important lesson in life. Just like one can never succeed by not trying, one can never succeed by not trying hard.
This seems like a no brainer, that trying and failing is obviously better than not trying to avoid failing. But failure can have severe consequences, especially in excess. To see yourself try and fail can strike at one's self esteem, regardless of whether you learned from it or not. This drop in self confidence can be unhealthy and one must exercise caution when failing too much. Sometimes not trying can be smart - especially in instances where it is not likely for you to succeed and/or the stakes are high. For example, you are on the game show Who Wants To Be A Millionaire, and you are on the last question, and you don't know the answer. Why would you try and most likely fail if you could just not try and still come out ahead? I know that is very exaggerated, but the point still stands that not trying is smart sometimes depending on the situation.
In conclusion, it seems I have again come to the seemingly recurring conclusion of, "it depends on the situation". This is because one can not honestly argue one side of this without considering the significance of the opposing argument. Trying and failing is imperative for a person's development, as long as it is in moderation.