We always go to Bow Falls and take a few photos (subjective...at least 10 or more). Some days it can be quiet busy with tourists but aim for early morning...there are fewer people around and you'll get better photos without other people photo bombing them.
Our last visit was quite surprising. We were the only people there! Seriously! It was great to have the place all to ourselves. Of course, this was probably due to the very cold temperatures. Also, while you can usually get a great view of the falls - flowing or frozen, this time around it was snowed over. So, a little disappointment but having the place to ourselves was a super treat!
If you're staying at Banff Springs Hotel, you can walk to it. If you're staying further in town, a quick ride on the happy bus (called by another name now) or a short taxi drive will get you there.
There's also a walking trail - with stairs. It's closed during the winter for obvious reasons but if you go during warmer months, be sure to check it out.