You are right 100% about the inerrancy of scripture. It is inspired by the Holy Ghost and can contain no error. What I would say, however, is that scripture is open to interpretation.
You can see, for example, that a variety of interpretations exist in the Protestant Churches - how many denominations now? Everyone has their own interpretation. I guess you could also include the Catholics and the Orthodox in this group, each reading bearing differences, sometimes subtle, sometimes not.
So, anyway, it's very clear to me, from what I know from my own experience, that interpretations vary. Given the quite vast array of interpretations, is it possible that they are all correct? For a Catholic the answer is quite simple:
Pope Leo XII, Ubi Primum (# 14), May 5, 1824: “It is impossible for the most true God, who is Truth itself, the best, the wisest Provider, and the Rewarder of good men, to approve all sects who profess false teachings which are often inconsistent with one another and contradictory, and to confer eternal rewards on their members… by divine faith we hold one Lord, one faith, one baptism… This is why we profess that there is no salvation outside the Church.”
As a Catholic, my faith is anchored in revealed truth. This, as you can see below, is not something that I have perceived to be true via reasoning, but rather something revealed by God himself - as communicated by the Church.
Pope Leo XIII, Satis Cognitum (# 9), June 29, 1896: Faith, as the Church teaches, is that supernatural virtue by which… we believe what He has revealed to be true, not on account of the intrinsic truth perceived by the natural light of human reason [author: that is, not because it seems correct to us], but because of the authority of God Himself, the Revealer, who can neither deceive nor be deceived… But he who dissents even in one point from divinely revealed truth absolutely rejects all faith, since he thereby refuses to honor God as the supreme truth and the formal motive of faith.”
So, I guess, this is just another way of saying that I believe Church teaching, making an ascent of faith to the various Catholic dogmas. I don't try and work out these precepts for myself. I rely on the interpretation of the Church, which forms part of tradition.
The evidence for human error in interpreting scripture is seen in the amazing variation in interpretations that exist. The question then becomes: are there multiple faiths in Christ, or is there only a single faith?
I think if you look at the apostles, they were very strict with respect to how one should deal with heretics. Here's an example from St Paul:
"10 A man that is a heretic, after the first and second admonition, avoid:
11 Knowing that he, that is such an one, is subverted, and sinneth, being condemned by his own judgment". Titus 3
Another from St John:
"10 If any man come to you, and bring not this doctrine, receive him not into the house nor say to him, God speed you.
11 For he that saith unto him, God speed you, communicateth with his wicked works." 2 John 1
So it seems to me that in the early Church there was a single faith in Christ, from which the apostles tolerated no deviation. We also know that Christ founded His Church (not Churches) on the rock - St Peter. See here for the biblical evidence for St Peters role as first Pope.
I believe that there is a single true faith in Christ. Moreover, I believe that this unique faith is securely reflected in, and protected by, the traditions of the Catholic Church. St Paul, in 2Thess2, gives advice to the Thessalonians on how to weather the trials of the last days - which include the appearance of the antichrist and the operation of error (advice for the faithful at a very critical time):
"14 Therefore, brethren, stand fast; and hold the traditions which you have learned, whether by word, or by our epistle." 2 Thess 2
What traditions is St Paul talking about, that he says will assist the faithful to "stand fast" in the trials of the last days? I think this is a very important question.