Even though sports play a fundamental role in Kapfenberg's mission statement, the city is known primarily for its resident steel industry. The proximity to the Erzberg mountain and hydroelectric power in sufficient quantities have given rise to several hammer mills here as early as the 15th century. The world reputation as a steel town was mainly established by the Böhler brothers from the end of the 19th century.
The first traces of human settlement in the Kapfenberg area date back to the Neolithic Age, as evidenced by finds in the Rettenwand Cave, for example.
Above the town sits Oberkapfenberg Castle, which was first mentioned in a document in 1173 as "Chaffenberg" Castle and which served the Counts of Stubenberg as their residence and administrative seat for several centuries. Today there is a castle falconry and the annual knights' festival, known beyond the borders of Austria, is a highlight for all medieval fans. At the highest point of the castle hill, on the site of the first castle, stands the Loretto Chapel built in the 17th century .
The castle is the starting point for the Wulfingweg, a panoramic circular trail that follows the footsteps of Wulfing von Stubenberg. He was once lord of Kapfenberg Castle and had become engaged to the daughter of his neighbor, the beautiful Agnes von Pernegg. Her father, however, had already chosen the knight of Kuenring as his son-in-law. When Wulfing returned home from a crusade just in time, he learned that Agnes' father had already hurriedly prepared the wedding of his daughter to the Knight of Kuenring. Thereupon he challenged his rival to a duel on a mountain meadow the next day, and Wulfing, strengthened by Agnes' cut-off braid of hair as a pledge of her loyalty, emerged victorious after a long battle. The mountain meadow where the two knights had "run against each other" was from then on called "Rennfeld". Today, this mountain is popular as a very panoramic mountain.
An ascent path to it leads via Frauenberg. There, in 1354, a chapel was built on the site of a statue of the Virgin Mary, which was expanded in 1489 to become the pilgrimage church of Maria Rehkogel.