Work on strengthening other aspects of your application. The step 1 failure is there and there's not anything you can do about it. There are many programs that will likely screen you out no matter what else you have on your application - nothing you can do about that. If you haven't retaken step 1 already, do your absolute best and make doing well your mission in life. Do well on your clinical rotations. Do the usual things of research or some kind of scholarly work so that you have other things on your CV. Make sure you develop good relationships so that you can get strong letters when the time comes.
If the rest of your application is positive, this will be seen as a blip - a significant blip, but a blip nonetheless. The problems come when you then go on to fail multiple clerkships, fail step 2, have mediocre letters, don't have anything else on your application, etc. A step 1 failure does not spell doom. It probably will limit your options to some degree, but if you're able to rebound and demonstrate that you're able to do what you need to do to make your situation better, you will likely be fine.