Lake Louise is one of the most popular places in the Rockies due to it's accessiblity and it's wonderous natural beauty.
Recognizing Lake Louise's beauty, the Canadian Pacific Railway built the Chateau Lake Louise to help take the strain off of the sometimes overcrowded Banff Springs Hotel. Since doing this, Lake Louise has certainly come into it's own. Millions visit each year and marvel at this beautiful glacial lake.
Lake Louise is easily reached via the turnoff on Highway 1 and just follow the signs for about 15 minutes. It will probably take you longer to find a parking space than actually driving there! There's an overflow parking lot just about the main lot, and you can still easily walk within a few minutes to the lakeshore.
In the town of Lake Louise you'll be able to find a small grocery store, an outdoors equipment store, post office, and of course tourist shops where you can buy souvenirs of your visit.
If you want to spend the night near Lake Louise there are numerous campsites and cabins available for rentals. Make sure you reserve in advance, though during the low-season you may be able to talk some cabin owners into a discount.