Love handles are just extra weight around the middle. LIke any extra weight, they can't be shifted very fast (well, if you go on a crash diet you will lose weight all over, but it won't help with specific areas and you will only put the weight back on again, so best avoid this.)

The best thing is to look at your diet and try to reduce your intake of fatty and sugary foods. At the same time, you should increase your level of everyday activity - trying to target one area is of limited value. However, once you've got more active you can also start doing exercises to trim your waist and abdomen. The simplest of these involve lying on your back with your hands behind your head and slowly raising yourself to a sitting position; you can then do the same exercise stretching first left and then right, to tone the waist area.

For more complex and challenging exercises, try the examples here.