Godly sorrow is a form of guilt that recognizes that we have distanced ourselves from God and are pained by that. However, other forms of guilt are sometimes excessive and skewed.
My favorite way to deal with any form of guilt is to analyze how valid it is and then say a short prayer, recognizing my dependence on and faith in the Atonement of Jesus Christ. He died to compensate for our errors and sins. I love him.