Modern backpacking typically involves no shelter building, and not too much fire building either. Tents and those tiny stoves are the norm. For such journeys, a good Victorinox Swiss Army knife is a "must have" tool. Even among knife nuts, the inexpensive SAK is the best tool for the largest variety of small outdoor jobs. My favorites are the Camper (which is thin enough to easily be carried in a pocket) and the slightly larger Huntsman. I purchase and carry a lot of knives, but most of the hobby is simply ego. A good SAK would suffice for 90% of the cuts I make every year.
A convex ground fixed blade, such as a Marbles or Blackjack, is a nice addition to the SAK, providing a handy blade for hiking stick whittling and other woodcraft projects. The convex grind is the key to the best woodcraft with the greatest amount of edge durability, IMHO. Then let the smaller flat ground SAK do the small stuff. A medium sized knife, like a Marbles Woodcraft, would make a perfect outdoor compliment to a SAK. Then send the knife off to somebody like Kenny Rowe, as the production sheath leaves much to be desired. Nothing sucks more than a great knife in a lousy sheath.
If youre going camping, where shelter building a fire making are a large possibility, Id add a Gransfors Bruks axe or hatchet to the mix. Just choose whatever model fits into the desired weight of your pack. People rave about the Gransfors Wildlife Hatchet for a lightweight alternative.
This is assuming that youll be backpacking and camping in a northern climate. If youll be in a southern climate, I havent got a clue.