The best exercises for thighs and hips is lunges and squats, right?

I have HHUUGGEE hips....I delivered 10'1 and 11'4 boys with these hips with only a little ripping. So, you get the idea when I say HUGE.

So, that's why I am asking. Is there anything else?

Yup... IMO

Of course (speaking from personal experience here!) you gotta watch the nutrition too...JUST as important for burning off that stubborn thigh fat - that's most women's primary fat repository - the oldest, most established fat resides there at least for many of us ladies...

Any suggestions for those of us with bad knees? Even an accidental squat can put me on the couch for a few days!

i have both horrible knees and a wickedly bad lower back. you would never catch me doing squats or lunges......... however i do leg presses, making sure that my lower back is very well supported and that my knees NEVER lock.

you can wrap your knees a bit for the leg presses, but i've found that if i do them by following the above advice i never have problems with my knees.

good luck