If you are in the Alpstein Area, this is a must-do and a perfect combo with the Seealpsee trail.
How to get there: My favorite option is to start in Wasserauen. Walk one hour direction Seealpsee and admire the lake when you get there. After a quick break you make your way up to Aescher Hut. this takes around 1.5 hours. The path is pretty steep and proper shoes are mandatory. After you reached Aescher Hut and had a break there, you can keep going and pass the Wildkirchli, a small church carved inside the rocks. And around 20min you should reach the top of the mountain, Ebenalp. From there you can hike back down to Wasserauen. You can also do this trail the other way around.
Time: its around 8km and 4 hours in total. 
Costs: If you do it as a complete round trail, its free of costs. If you wanna save some time and energy, you have the possibilitiesto cut it a little short with taking the cable car from Ebenalp to Wasserauen or vice versa. This one costs 22chf single, or 11chf single with a half fare/swiss travel pass.
Tip: The path is quite underestimated and there happened already a lot of accidents. Please watch your kids and yourself.