Lots of good advice here, here's how I kept sane:
Focus on your strenghts for the two components of getting an entry-level job: (1) landing the interview and (2) landing the job.
Landing the interview is some percentage of the number of real leads you have, based on the strength of your resume.
To get real leads (i.e. resume won't get trashed): connect with fellow alums, ask everyone you know if they know someone who can put you in the pipeleine. Shotgunning applications are not real leads.
If you have a small network, then focus on strengthening your resume as much as possible. If you have a small network, find creative ways to expand it.
Landing the job (given that you have an interview) is a function of luck, likeability, and performance.
You should intuitively know if your weakness is your charisma or how well you can answer technical questions. Hammer on the weakness.
The benefit of thinking this way is that I could survive rejections without thinking that I was a bad candidate: I just had to tweak some component of how I came across. From there it becomes a problem to solve, rather than a depressing result to accept.
Best of luck! Like others said, the first one is the hardest, but it can be done.