This is a complicated matter but since your questions is 11 hours old and you got no replies i will at least try to give some insight.
The causes of World War are now believed to be more inconclusive than spread at this time. All major powers share some blame for World War 1. The correct "distribution of blame" is up to debate of course. But
The middle powers were declared the sole reason for the outbreak of WWI
The Treaty of Versailles in retroperspective was badly designed and pretty much enabled what happened later
Some examples:
Germany lost a good amount of territory--> unhappy people in this areas obviously. Resettelment harms the economy.
Germanys military capabilities were restricted. Telling a proud and strong country like Germany what it can have and what not will create tension and hatred for sure. On the other hand the restrictions failed in the long run as we have seen when the Wehrmacht marched all over Europe despite the allied ( particulary France ) plan to prevent a future German aggression. So this part of the treaty was pretty much a fail-fail. Not even sure if its possible to restrict one of the strongest countries ( in terms of economy, population, science ) in that way. The French desire for safety of German aggression was understandable after what the French people had to suffer during the war, fighting and destruction happened primarily on French soil, casualties against German armies were huge and had lasting impact. But the approach was the wrong one. They tried to "cripple" Germany in a way it was never able again to raise an army like they did during World War 1 and the France-Prussian war.
Reparations. Germany had to pay a huge amount of reparations. These reparations hindered the German economy and the rebuilding effort. Add the population which had to be resetteled and all the other problems you get economical collapse. Here we have to question the intentions of the Victors. Obviously you want to trade again with Germany and start a new friendly realtionship which will ensure longterm peace. But damaging the economy doesn't help. Like all the other mistakes this fueled resentment and even hatred. Also the fact that obviously outside influence enhanced German domestic problems made it very easy to blame others and fuel hate. "France is at fault", "Great Britain is at fault" "the Jews are at fault".
There are more points but iam no expert on this topic and just want to give some input.
Overlooked military situation at the end of WWI.
In contrast to World War II, German armies were not destroyed at the time of surrender. With the USA entering the war, the German defeat was unevitable the odds were to high at this point, but it should be noted the german armies were functioning and still "outfighting" the entente thus inflicting heavy casualties while retreating. During 1918 the entente suffered more than 2 million casualties fighting German armies. When the Germans decided to surrender they also at least partially factored in the strong possibility to get acceptable conditions. The Treaty of Versailles eventually disappointed. Obviously it felt unfair to the germans to suffer so many "punishment" for a war which was the result of many political failures on all side and thurst for power on all sides. People than obviously asked "Why did our armies lay down their weapons if we get treated in that way" this helped to propagate the "Dolchstoßlegende".
What could be the summary of this situation? "Punishment" was obvioulsy the wrong choice. Making a strong country like Germany the scapegoat and interfering with domestic matters in such a way enhanced the already serve problems of Germany and created enemies in the eyes of German people. This eventually was the breeding ground for facsim. It was rather easy for them from this point on:
"Look how the punish us despite our strong armies laying down their weapons to end the blood shed"
"They make us pay thats why you the people are poor"
"They took our land. They took what rightfully was ours"
Well hinsight is 20/20 of course. What could have be done better? After a war it seems to be the correct approach to talk and fuse together what was ripped apart during war. Establishing new friendship, bonding the economies and helping each other to rebuild what was destroyed. The aftermath of WWII showed us what could have been done after World War 1. Germany for example now is a strong economy with peaceful intentions and generally a good impact on humanity as a whole. Same goes for Japan. The aftermath of WW1 was the opposite it drove a wedge between the peoples and created resentment all over the place. A missed chance for sure...