We first note that the right-hand side of the equation is odd. We therefore know that x2 is odd, and therefore x is odd. One of the neighbors of x must therefore be divisible by 4, and we therefore have x=2pa±1 with p>1 and a odd.
Let us first assume x=2pa+1. If a>1, we first note that x2−1=2p+1a(2p−1a+1) holds, and therefore, since y must contain all odd factors of x2−1,
y≥3(2p−1a+1)>2pa+1=x,
which contradicts x>y. We therefore have a=1, and x=2p+1. The only possible value for y is then 2p−1+1, since b(2p−1+1)>2p+1=x holds for any b>1. Any possible solution in this case must therefore have x=2p+1, y=2p−1+1 and therefore z=p+1. If p=2, we obtain x=5 and y=z=3, which contradicts y>z. For any p>2 however, we obviously have x>y and y>z holds, since 2p−1+1>p+1⟺2p−1>p is certainly true. All tripels (2p+1,2p−1+1,p+1) are therefore solutions for p>2.
Now let us assume x=2pa−1. If a>1, we have x2−1=2p+1a(2p−1a−1), and therefore
y≥3(2p−1a+1)=2pa−1+2p−1a−2>2pa−1+2p−2>x,
which again contradicts x>y, and we once again have a=1. If x=2p−1, possible values for y are either y=2p−1−1 or y=2(2p−1−1), since b(2p−1−1)>2p−1 for any b>2. We therefore have two further groups of solutions. In the first case, we have x=2p−1, y=2p−1−1 and therefore z=p+1. If p=2, we obtain x=3, y=1 and z=3, which contradicts y>z. If p=3, we obtain x=7, y=3 and z=4 again contradicting y>z. If p≥4 however, y>z holds, since 2p−1−1>p+1⟺2p−1>p+2 is certainly true. All tripels (2p−1,2p−1−1,p+1) are therefore solutions for p>3.
Finally, if x=2p−1 and y=2p−2, we have z=p. If p=2, we obtain x=3 and y=z=2, which again contradicts y>z. If p>2 however, y>z holds, since 2p−2>p⟺2p>p+2 is again true. All tripels (2p−1,2p−2,p) are therefore also solutions for p>2.
Summarizing, the solutions are given by the tripels
(2p+1,2p−1+1,p+1)for p>2,(2p−1,2p−1−1,p+1)for p>3,and (2p−1,2p−2,p)for p>2.