live this down?

"I think it's gonna be a lot of years before I live this down."
-Manly Mark, on dressing up as Ginny the Genie



This is from the reality show "the Apprentice" as some of you may know.
I don't get what "I live this down" means.
What's that mean?

"I live this down" = [Before] I overcome the embarrasment

"this down" = "in this town" ?

No, Saif was pretty much correct.

Thanks!