Select the most appropriate option that can rectify the incorrectly spelt word in the following sentence.

In our quest for power, we often fail to acknowlege the existence of other people.

The correct answer is acknowledge.

Let's analyze the given sentence and identify the spelling error:
"In our quest for power, we often fail to acknowlege the existence of other people."

The word acknowlege is misspelled. The correct spelling is acknowledge, which contains the letter 'd' before 'g'. It means to accept or admit the existence or truth of something.

Let us evaluate the provided options:
1. acknowledge - Correct spelling.
2. accknowledge - Incorrect spelling (contains an extra 'c' at the beginning).
3. acknowlede - Incorrect spelling (missing the letter 'g').
4. acknowledje - Incorrect spelling (uses 'j' instead of 'g').

Therefore, the most appropriate option to rectify the spelling error is acknowledge.