You cannot spot reduce. Infomercials and magazines are lying to you because it will make them money.
You can reshape your underlying musculature (weight lifting, resistance training——lunges, squats, and step ups are great for the thigh/butt/hip area) and you can reduce your overall bodyfat through diet and cardio to reveal that better shape of muscle underneith, but no single exercise will make a single area remove more fat. You can reshape your muscles, but if they are still covered in fat then nobody could tell. And fat only really comes off all over and in genetically predetermined patterns (waistline is last for men, and hips/butt is last for women).
As for the hips, women genetically are predetermined to hold fat there. You might be lucky, and with enough cardio and weight training slim your hips (as well as the rest of you down in proportion), or you might have gotten the crap shoot of life and be one of those girls who’s still got birthing hips even when their body fat percentage is so low that their ribs stick out and they stop having periods. Good nutrition and a balanced workout will only do so much.
So, in sum:
1.) dial in good nutrition
2.) resistance train: FULL BODY, or you will look unbalanced.
3.) cardio