Rafting can be as easy and gentle as a 2-hour family float trip on the Bow River, just below Banff Townsite; Canadian Rockies Rafting Company (tel. 877/226-7625 or 403/678-6535; www.rafting.ca) offers trips from C$55 adults, C$45 children under 16 (the company allows children as young as 3 on the float). On its website, Canadian Rockies Rafting rates its various trips the way ski hills do: Green circle for beginner, blue square for intermediate, and black diamond for the rough stuff.
The gnarliest rapids in the area are just across the border on British Columbia's Kicking Horse River, with Class IV rapids. Canadian Rockies Rafting offers trips to Kicking Horse for C$125 adults or C$115 children 12 to 15 (children under 12 not permitted), lunch included. You can do a half-day, but it's only C$15 or C$10 less, respectively, and doesn't include lunch.
It seems only natural that you'd want to paddle a canoe on these glorious Canadian lakes. Canoe rentals are available at Moraine Lake (tel. 403/522-3733) or at the Fairmont Chateau Lake Louise (tel. 403/522-3511). Rates are C$50 per hour. In the town of Banff, head to Blue Canoe Rentals (at the end of Wolf St.; tel. 403/762-5465). Rates are C$35 for the first hour and then C$21 for every hour after that.
Note: This information was accurate when it was published, but can change without notice. Please be sure to confirm all rates and details directly with the companies in question before planning your trip.