The challenge known as the 7 summits is the collection of the highest mountains on each of the seven continents. While many climbers since 1956 attempted to climb the 7 highest mountains on each continent, the first person to achieve this challenge was Dick Bass in 1985. While he was not a passionate climber like many that came before him and after him, he had the resources and determination to complete this challenge.
Though any challenge is not without its controversy, what is defined as the Australian Continent is a source of debate. As defined by the encyclopedia Britannica, the land mass known as Australia is considered a continent while Greenland, which is only 1/4th the size of Australia, is known as the world largest island. By this definition, Mt. Kosciusko which stands at a height of 7310ft, is the highest mountain on the Australian Continent.
But do we define a continent by its land mass or the continental shelf it sits on? If we define it by the continental shelf, then the islands of New Zealand and New Guinea, which sits on the same continental shelf as Australia and are only separated by elevated ocean levels, would be part of the Australian continent. Therefore the highest peak on the Australian continent would not be Mt. Kosciusko, but the Carstensz Pyramid which stands at a height of 16,024ft. In fact, most in the climbing community consider the latter the true 7th summit. If this is the case than the first person to summit the 'true' 7 summits was Pat Morrow in 1986 who summited both Mt. Kosciusko and the Carstensz Pyramid.
To date, fewer than 200 persons in the world have summited the 7 Summits of the world.
My plan is to summit the peaks made popular by Pat Morrow and which are more generally accepted as The 7 Summits.
What follows below is a quick summary of the 7 Summits including both Mt. Kosciusko and the Carstensz Pyramid:
Mt. Kilimanjaro
Sitting at 19,340ft, Mt. Kilimanjaro resides in Tanzania, Africa and is the highest point on the African continent. Mt. Kilimanjaro is not actually a mountain at all, but rather the remains of an ancient volcano that has remained dormant. Kilimanjaro is unique that during the ascent climbers will climb through all climatological zones – from tropical rainforest to moss to desert to the snow on the summit.
Considered an ‘entry level’ mountain, Mt. Kilimanjaro should not be taken lightly. Even though the assent of Mt. Kilimanjaro does not require any specialized equipment or skill, one can still suffer from altitude sickness if the mountain is ascended too fast. The assent of Kilimanjaro usually requires 5 days or more to properly acclimatize to the altitude. Reaching the summit of this ‘easy’ mountain is not a given either. Depending on the route taken, some have a higher percentage of success than others. The Marangu route, for example, has only a 30% success rate of climbers reaching the summit. For comparisons sake, Mt. Everest has only a 25% chance of reaching the summit. 
Mt. Elbrus
Rising to a height of 18,150ft, Mt. Elbrus is the highest point of Europe. Situated within the Caucasus Mountain Range, which is one of the most rugged mountain ranges in the world, Mt Elbrus is one of the technically easier of the high peaks on the continent. Besides the traversing of glacial ice, the biggest danger on the mountain is the weather that can be rather nasty and can change quickly and often on the mountain. To underestimate this mountain could be a deadly mistake. Elbrus is one of the worlds deadliest mountains with 48 deaths suffered in 2004 alone. 
Mt. Aconcagua
The highest peak in the Western Hemisphere, the peak of the Aconcagua sits at 22,834ft and is located in the Andes of western Argentina near the Chilean boarder. There are two main routes to the summit. The Vacas Valley route is a non-technical route that requires basic mountaineering skills, while the more challenging Polish Glacier route requires intermediate to advanced ice climbing skills. Though first summated in 1897, there are traces of Inca civilization and culture near the summit.
Mt. McKinley (Denali)
Mt. McKinley, also known as Denali, is situated in the Alaskan Mountain Range, climbs to a height of 20,320ft and is the highest point in North America. Mt. McKinley offers one of the world's greatest expedition challenges. While it is exceeded in elevation by peaks in South America and Asia, its arctic environment--with extreme temperatures and severe storms--and its great height above the Alaskan plain make it a severe test of personal strength, team work, and logistics. No peak in the world has greater relief: McKinley rises 17,000 feet above its surrounding plain, Kilimanjaro 14,000 feet, and Everest 13,000 feet. Vertical elevation gain on Everest from the normal base camp for the South Col route is 11,000 feet; from the Kahiltna Glacier McKinley's summit rises 13,000 feet.
The mountain is also characterized by an unusually severe risk of altitude illness and extremely cold weather due to its high latitude and its proximity to the jet stream. At the equator, a mountain as high as Mount McKinley would have 47% as much oxygen available on its summit as there is at sea level, but because of its very high latitude, the pressure on the summit is much lower and therefore the oxygen level is lower too. 
Mt. Vinson Massiff
This 16,860ft peak is located about 750 miles from the South Pole and thousands more miles from any scientific settlement on the ice cap of Antarctica. With blizzard to whiteout conditions common and an average temperature range from -115°F to 6°F and a mean of -56°F, Antarctica is a journey of pure survival. Because Antarctica has no water vapor or dust you can see for hundreds of miles and consequently distances and sizes are very deceptive. Also, because the atmospheric envelope gets thinner towards the poles, a 17,000ft mountain in Antarctica is equal to a 20,000ft mountain in the Himalaya’s. In fact, Mt. Vinson is the highest point on Earth at such an extreme latitude. 
Mt. Everest
Situated on the boarder of Nepal and China, Mt. Everest rises to a height of 29,035ft and is resides in the Himalayan Mountain Range. Due to the geological force of the Indian land mass pushing into the Asian land mass, Mt. Everest grows approximately 4mm per year. Mt. Everest rises to such a dizzying height it is the only object on Earth to actually sit in the Jet Stream.
As of the end of the 2004 climbing season, 2238 people have reached the summit of Everest and 186 people have died while attempting the summit. The conditions on the mountain are so difficult that about 120 corpses still remain on the mountain, many of them along the popular climbing routes and are still visible remaining where they fell.
While falls and avalanches are common dangers on any mountain, Mt Everest has an area unique to it known as the Khumbu Ice Fall and is regarded as the most dangerous place on the mountain. Situated at the head of the Khumbu glacier, climbers begin their climb to the summit through a labyrinth of crevasses and ice towers known as seracs. Using ladders and rope to navigate the giant crevasses that can open suddenly, climbers also have to be weary of the giant seracs that can fall without warning, many the size of a car to a large house. It is estimated that the glacier moves down the mountain at a rate of 3-4 feet a day resulting in climbing routes that change daily.
The Carstensz Pyramid
The Carstensz Pyramid sits 4 degrees south of the equator and lies in the Dugunduguoo, the high mountains of what was formerly known as Dutch New Guinea. Rising to a height of 16,023ft, The Pyramid is a long, rocky find and unlike most other summits, is a remote peak with difficult access both physically and politically. Although the Carstensz Pyramid is not as demanding as some of the other 7 Summits, it is probably the technically hardest to climb. 
Mt. Kosciusko
At just 7316ft, Mt. Kosciusko offers little for hardcore climbers. In fact, it is so small that if not for being the highest peak of the continent of Australia, most would never have heard of it. It is a popular hiking and skiing destination of Australia and most people can easily complete the hike in a day.