This is the fanny pack I use for day hikes.
If you get something larger, such as this knapsack, you have to have it on your shoulder, not just your waist. And, you tend to carry more because it has more room and people hate wasted space. Two or three people could put all their stuff in one hiking backpack and take turns carrying it, but I'd hate to be without the pack when someone takes a wrong turn - you should always have your basic essentials on your body.
A great way to minimize your gear and make future hike preparation easier is to create a gear list. Gather all the stuff you are going to take, pack it, and just before you leave write down exactly everything that you have with you. After your hike is over, go over your list and see what you didn't use. Find things you can leave home next time. But, don't be dumb and choose raingear just because it didn't rain today.
For future hikes, just get out your list and gather what you need quickly.
When hiking with a partner or two, there are more opportunities for minimizing weight. You can buy larger containers of food so the packaging waste is less. You can take just one water filter, sunscreen, bug repellant, and other items that can be shared. You need to coordinate this before the hike.
The types of clothing you choose will greatly effect your weight. Light-weight synthetic fabrics do a specific job better than natural fiber at a reduced weight. Some articles of clothing specifically wick away sweat while providing insulating warmth. Others keep out rain but still allow perspiration to escape. Hiking clothes come in so many colors, styles, and brands, its almost comical. Spending a couple hours at an outdoors store should sufficiently overwhelm you and possibly drain your wallet.