I spent a couple of days in a little town called Kandersteg that was just spectacular. It's about 25 klicks South of Interlaken in Switzerland, and nestled in a crook between three mountains, with a spectacular blue lake sitting on a plateau about 1500' above the town. Hiking up to the lake is only a day trip, but there are plenty of longer hikes along the Alps. It's close to Interlaken, which seems to be a Mecca for backpackers.
Other good thing about it is that it's a spectacular train ride from the Italian side of the Alps and Lake Como. If I were going to spend a couple of weeks backpacking around beautiful country, Northern Italy into Switzerland would be a damn fine choice.