The best answer is, there isn’t a best way. I will say that everyone’s body will react differently to diet and exercise programs. The best first step is to find an exercise that you enjoy doing because weight loss can be a long, but rewarding, journey.
Whatever exercise activities you do choose, try to make sure they incorporate multiple muscle groups. The more muscle groups you work the more calories you will be burning. So, doing a squat to over head press would be more beneficial than just doing a chest press because more muscles are activating. Also, consider activities like HIIT or Tabata training over just running. You will work a lot more muscles in a shorter amount of time. If motivation to exercise is an issue, then try group classes like boot camps. You will work at your own pace but with your peers there to help motivate you.
Now onto diet. First off, get rid of the term diet, look at it as a lifestyle change. Want to feel good? Then eat good. No, this does not mean you will have to give up all the foods you love. You just have to take it all in moderation. I suggest to stay away from fad diet programs. In most cases (not all) they are a very very short term solution. As your body changes so too will the meal plans. This is important! You may start off with high protein and lower carb and fat, but as you become more physically fit you may need more fuel like carbs. Remember protein is not an energy source, it does help repair muscle, but carbs and fats are what give you energy. I would highly suggest talking to a nutritionist for a meal plan to fit your needs or if you just need the basic such as “What amount of protein, carbs, and fats do I need?” talk to a trainer or check out apps like My Fitness Pal. Also, don’t worry if you slip up from time to time, no one is perfect. Even I have a little cheat meal from time to time.
Most important, remember to do this for you and no one else. Life will happen and it will create obstacles. Use those obstacles to make you stronger. This is the first step to a newer fitter you!