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I often tell people that if they want to see a fun movie, see Hackers, but if they want to know what hacking is like, see Sneakers. ... though the all-nighter scene in Hackers where they just "flow" out some code while techno plays over the montage is also pretty accurate.
I tend to describe Hackers as depicting what coding feels like on the inside. All those great visuals, the pumping music, it captures the emotion of getting your teeth into a really gnarly problem, and the exuberance of eventually coming up with a solution. People watching over the shoulder of a developer at work are just going to see a bunch of scrolling text and tedious iterations of red, red, red, green, reload, a…
I also like Swordfish for this. Him dancing at the keyboard while programming is very much what it feels like when you have a good hack going.