David McGoldrick's superb second-half strike earned struggling Saints a draw.
Southampton might have stolen all three points when Andrew Surman's injury-time free-kick rebounded off the post.
Blackpool took a deserved first-half lead on 20 minutes when DJ Campbell scored with a penalty after he had been pushed by Jan-Paul Saeijs.
Campbell's overhead kick was well saved by Kelvin Davis but on 69 minutes McGoldrick collected a Surman cross, turned and buried home the equaliser.
Blackpool boss Tony Parkes: "We set out not to lose this game and we achieved that point. We have gone four games unbeaten but I still think we need two more wins to reach safety.
"We missed one or two chances in the first half which would have killed the game off and they came back strongly at us.
"And we got our luck at the end when they hit the post and the ball rebounded so fast their players following it in could not get at the ball."
Southampton manager Mark Wotte: "Our boys were 100% that the Blackpool penalty was very harsh - it wasn't a penalty.
"David McGoldrick's goal typified our fighting spirit. He got into the penalty area and went for it.
"We had ridden out some luck in the first half. Their striker DJ Campbell gave our centre-halves the hardest game they've had in the last two months."
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