Brackley were a well-organised team and Hereford created very few chances throughout the game, unable to break down a rigid defence.
Richards said that the best team won on the night and it showed what his side need to properly compete in the league next season.
Richards said: "The best team won, they're top of the form guide for a reason.
"A very well-drilled, efficient, National League North team, you can see why they've won ten in their last 11. It was a lesson for us on the levels we need to be at, I don't think we played anywhere near to the capabilities that we can.
"It was a hard lesson and a fair result."
Brackley won the FA Trophy final at Wembley last season and have been consistently strong performers in the league despite not being able to secure promotion to non-league's top flight.
Richards added: "We need to be a bit more street-wise and more well-versed at being a National League North team competing at the top end of the table.
"Brackley have been doing that consistently for the last four or five years.
"They're very good at what they do, they've got some good players, they've got good strength and depth. It was a tough test."
Hereford have been lacking fire-power up front, and even when James Waite was brought on in the second half for the final 30 minutes of the game he rarely threatened.
He was played behind Lance Smith up front and wasn't given a chance to try and pull a goal back.
When asked where Brackley were better than Hereford, Richards said: "Second balls.
"All round the park there seemed to be two of them when there was one of us, they would always be first to the second ball or the breakdown or the first contact.
"We didn't compete as well as what we have done in previous games, and like I said they are very good at what they do and I wouldn't be surprised if they go up through the play-offs, my money would be on them.
"We're trying to build a squad that can compete at the top end and up until today's result I think that's two in the last 12 that we've lost. On the form guide we've been consistently in the top ten over the last 15 or 20 games."