Rice was axed from the Baltimore Ravens and suspended indefinitely from the NFL, after footage was released by celebrity news website TMZ on Monday showing the running back allegedly hitting his then-fiancee, now-wife Janay in February.
In July, Rice was handed a two-match ban for aggravated assault in an elevator at the Revel Casino in Atlantic City, New Jersey, but the footage going public forced the Ravens' hand further.
New York Jets quarter-back Vick, prone to controversy himself, said Rice deserved a second chance, but also hailed NFL commissioner Roger Goodell for taking a stand.
Vick served a 21-month prison sentence for his involvement in a dog fighting ring, but since returned to the NFL - spending four seasons at the Philadelphia Eagles, before switching to the Jets this year.
"I think they're [the NFL] doing everything appropriate to make sure they make the right decisions," Vick said.
"You're not always going to get it right, and I think this was a trial and error period, you have to go through it to figure out what the proper solution should be, for now and moving forward, so this is the situation, you've got to let the process play out, and at the end of the day everybody did the right thing."
Having made a successful return to the football field, Vick said Rice should eventually be given a chance to redeem himself.
"Obviously I think everybody deserves a second chance, everybody, regardless of what has been done, dependant on the magnitude of the crime, I can say that.
"In this situation, I think he deserves a second chance.
"We've all got to sit back and reflect on what's been done, Ray has to figure out what's best for him moving forward and I think the people in problem positions make the right decisions when the time comes for him."
Reigning Super Bowl-winning coach Carroll, in charge of the Seattle Seahawks, said the incident had caused him to address his team on the issue of domestic violence.
"I talked to the team about the serious nature of it," Carroll said.
"It's an extremely serious situation. We made them aware that we will help them in any way if they have concerns about it. We will try to elevate their awareness. I think it's another example of an enormous situation that people learn from and grow so much from.
"Hopefully, the process and visibility will bring an awareness throughout our society. We need to take care of one another better and we need to respond accordingly."