44 is quite normal. As long as your processor remains under 62-65 degrees it's fine.
Which motherboard do you have? You'll have to change the voltage in BIOS, and then test to see if it's stable. Don't set it immediately to 1.18v because maybe your CPU will only reach 1.25 or something. There's no way to know in advance but to test it. I think you can easily lower it to 1.3v, so try that first, and then try lowering with increments of 0.02v if possible.