And what are the three most important things you have learnt since then?
Mine was the Great Ocean Walk in Victoria. My mate and I had just watched Into the Wild and had a massive craving for seeing the outdoors.
So we set out on achieving a hike as quickly as possible and did as little research as possible. We used the movie as a guide on how to hike, thinking we were going to encounter bears, extreme temperatures, snakes, wild people and the like I carried a big hunting knife and hammer, and he brought a hatchet (just in case). Our scariest experience of that trip was hearing something that sounded like a wild pig, but turned out to be a koala clearing his throat.
For the eight day trip. Notable mentions of equipment and food (for me) go to: 8 cans of 375g baked beans; hammer; hunting knife; rope; 3 litres of water at all times if possible (just in case); 3kg 2 man four season tent (for me in Spring); enough clothes for a family of 8 (exaggeration); and enough food for a family of 3 for 8 days (not an exaggeration).
My pack at the beginning weighed 26kg. We made it four days because my friend became seriously homesick, and my knees were giving me some serious grief under the weight of those beans.
What did I learn?
No more beans: There are better, lightweight, and just as nutritious foods available to take when exploring the outdoors, less weight, means your carrying less, therefore, you don't need as much food to replace that energy your burning. Ultimately less beans

No more hunting knives: Be realistic about what you are going to face in the wild / outdoors. I find a decent first aid kit and a satellite phone will keep you out of most serious-trouble in Australia.
Use a rock for tent pegs: Improvise: Use what you have around you, find 5 uses for a tool you bring along instead of 1. If you can use the land to achieve the same goal a man-made tool would, isn't that one of the most important things when bush-walking? You're separating yourself from civilization just that little bit more.
That's what I learnt. Not immediately, but I was just an 18 year old crazy back then. Now I'm a 24 year old crazy. I have a back condition, a bad knee, and meet the definition of an alcoholic because I am no longer a student. But, I am glad I went over-prepared that first hike to learn all those important lessons because now I have much more comfortable hiking experiences.
Jickham