Rodgers' men welcome Real to Anfield on Wednesday having made an unconvincing return to the Champions League this season, overcoming minnows Ludogorets 2-1 and losing 1-0 to Swiss side Basel so far in Group B.
Bale's omission from Real's squad, due to a hip injury, will come as a boost to Liverpool's hopes of victory, however, Rodgers is still wary of a side led by Ballon d'Or holder Cristiano Ronaldo and which also features the attacking talents of the likes of James Rodriguez and Karim Benzema.
"It's still going to be a very difficult game for us, they have a squad full of top-class players," Rodgers said.
"Of course, there is a special talent in Cristiano Ronaldo, arguably the best player in the world at the moment, and his evolution from being a soloist who scores goals to a goalscorer is there to see and his record is incredible.
"But we have to make a plan for our team first to ensure we cause Real Madrid problems and then prepare yourself for the quality players they have, but that will be as a team."
The Northern Irishman's main concern will likely be how to engineer an attacking threat, with Daniel Sturridge out through injury and close-season acquisition Mario Balotelli struggling to find form.
Former Manchester City and Milan striker Balotelli missed an open goal in a 3-2 triumph at QPR last Sunday, but Rodgers is confident the Italian will soon rediscover his scoring touch.
"He's [Balotelli] been fine, of course he was disappointed after the weekend - he's a goalscorer so he wants to score goals," Rodgers added.
"But I highlighted to him he was in the positions to miss, he was arriving in the areas, so I think it's only a matter of time before he gets his goals.
"He's a good kid, he's working hard and he has scored goals in big games and I'm sure he will go into the game tomorrow night - if selected - focused on getting off the mark again, and as long as he is in there getting into the positions I'm sure he can score."
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