When Jesus went into the region of Caesarea Philippi he asked his disciples,“Who do people say that the Son of Man is?” They replied, “Some say John the Baptist, others Elijah, still others Jeremiah or one of the prophets.”He said to them, “But who do you say that I am?” Simon Peter said in reply, “You are the Christ, the Son of the living God.”Jesus said to him in reply, “Blessed are you, Simon son of Jonah. For flesh and blood has not revealed this to you, but my heavenly Father. And so I say to you, you are Peter,and upon this rock I will build my Church, and the gates of the netherworld shall not prevail against it. I will give you the keys to the Kingdom of heaven. Whatever you bind on earth shall be bound in heaven; and whatever you loose on earth shall be loosed in heaven.”
It is rather obvious when you read the New Testament that Peter is the major player of all the disciples. He is at every significant event from the Baptism of Christ,to The Transfiguration, to The Garden of Gethsemane. Peter even walked on water. Peter was told by Jesus to feed my lambs in John 21:15-19 Peter is written about exstensively in the Acts of the Apostles and later by the Early Church Fathers. The rejection of Peter by Protestants is the rejection of the Apostolic Tradition and to put it bluntly they are flat out wrong. If you view Jesus as the fulfillment of the promise to King David that he would rein forever then where is this kingdom that is left on earth? It is the Church. The Church was founded by Jesus Christ and handed on to his apostles, who in turn passed it on to each successive generation. You can line up all the faults of the Catholic Church from the first century to this current day and it has a multitude of sins and a multitude sinners, but that does not change the fact of what it is - the one true Church first handed to St. Peter by Christ himself.