Being Honest with team is critical. Many team member will respect you more for it. It is ok to admit mistakes and take ownership of it. It is also ok to say "I don't know" and ask for help. This will create a culture of honesty and transparency in the team.
I have hired many talented individuals over the years, and one thing I've learned is the importance of taking a leap of faith when hiring. Sometimes the best candidates aren't the ones who fit every requirement on paper. Go with Gut feeling. sometimes it works and sometimes it doesn't. But if it works it leads to great things .
From my personal experience, educational qualification dont reflect truth. If a person is performed well in competitive exams, then it is a good indicator of their talent but not performance in real life. .
A great way to judge a person capabilities and potential performance in future is by looking at what they have done on their own. If a person created anything, it shows in their confidence, passion and etc. .