The Blues slumped to a 4-1 defeat in Monaco's Stade Louis II a year ago, with a rampant Radamel Falcao grabbing a sensational first-half hat-trick.
But victory in last season's Europa League has given Cech and his team-mates a shot at redemption, and the 31-year-old is determined to make it count.
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"We managed to beat Bayern on home soil, in their own stadium and with lots of expectations, so it was an unbelievable moment for us.
It was the same with the Europa League last season. We're glad, after we rightly lost to Atletico, that we have another chance and we would like to have a different story this time."
Cech also insists he would have no qualms about piling more penalty heartache on Bayern, after Chelsea's astonishing shootout success against the German giants in the 2012 Champions League final.
"If you have the cup in your hands it doesn’t matter how you managed to win it, so if we have to go to penalites, so be it," he added.
"It’s always good to play well and win the game in normal time, but the only bad thing is to lose the game."
Bayern attacker Thomas Muller - whose goal was not enough to prevent Chelsea triumphing in 2012 - insists Pep Guardiola's men are not afraid of the prospect of spot kicks either.
"We don’t want to get to a penalty shootout because we want to win the match in normal time," he added.
"If we do get into a penalty shootout we don’t have any recent examples to help us, but we will still have a fighting chance."