Jim Jefferies' side deserved the point as they came back from an early setback when they lost a goal to Carl Finnigan.
Falkirk snatched the lead after just 75 seconds. Scott Arfield beat two Killie defenders and cut the ball across goal for Finnigan to apply a simple finish at the back post.
But the home side, that have only managed two clean sheets all season, leaked an equaliser just eight minutes later.
Fraser Wright won a corner a corner off Kenny Milne and then managed to get his head to Willie Gibson's flag-kick as he bulleted a header past Tim Krul.
There was a let-off for Falkirk when Darren Barr, with all the time in the world, thumped a clearance against team-mate Milne to give Colin Nish a sight of goal, but the striker could not get hold off his shot and Krul managed to gather.
At the other end, an Arfield corner picked out an unmarked Graham Barrett, but his fresh-air swipe let Kilmarnock off the hook.
It was end-to-end stuff and a cross-field pass from Jamie Hamill picked out Gibson who fashioned a shooting chance from the edge of the area but he directed his effort straight at Krul.
Danny Invincibile was desperately unlucky not to put Killie in front after 29 minutes. He took a short pass from Nish and curled a tremendous 16-yard shot beyond Krul but the ball came back off the inside of the post.
Falkirk coach Brian Rice was given a stern lecture by referee Alan Freeland after he came to the edge of his technical area to complain about some of the Killie challenges that had gone unpunished.
Kilmarnock lost Simon Ford to injury at the start of the second half but it did not knock them off their stride.
Wales saw a header saved by Krul before Nish lashed a shot across the face of goal when Falkirk were caught short at the back.
Both sides had chances in the closing stages. Substitute Russell Latapy curled a shot narrowly wide for Falkirk after some great footwork but Killie had their moments too.
Gary Locke worked himself an opening in the final minutes but shot straight at Krul.