Many Catholics treasure the sacrament of Reconciliation.
The peace of mind and soul which this sacrament imparts to us is one for which there is no substitute. It is a peace that flows from a certainty, rather than from an unsure hope that our sins have been forgiven and that we are right with God.
All the results of the sacrament of Reconciliation—restoration or increase of sanctifying grace, forgiveness of sins, remission of punishment, restoration of merit, grace to conquer temptation—all these are possible only because of the infinite merits of Jesus Christ, which the sacrament of Reconciliation applies to our souls.
Jesus on the cross already has "done our work for us". In the sacrament of Reconciliation we simply give God a chance to share with us the infinite merits of his Son.
"Your sins are forgiven." (Luke 5:20)