Reducing a fraction to lowest terms means dividing the numerator and denominator by their greatest common factor. There are a couple ways to do this. First, you could use the Euclidean algorithm, which could get an answer without being able to factor either number. The alternative is, of course, to factor numerator and denominator. We're actually pretty lucky in this case that it's very easy to check if a number in base 11 is divisible by 10. For example, in the numerator, we have
$$5(11^2)+8(11)+7\equiv5(1^2)+8(1)+7\equiv 20\equiv 0\pmod{10}$$
Similar to the divisibility test for 9 in base 10 numbers, all you need to do is sum the digits and see if the sum is divisible by 10 (or 5 or 2). In this case, both numerator and denominator sum to 20 and are therefore divisible by 10. Dividing by ten, we get $\left(\frac{587}{749}\right) _{11}=\left(\frac{64}{82}\right) _{11}$. Again, both numerator and denominator sum to a multiple of ten, so we can divide both again to get $\left(\frac{64}{82}\right) _{11}=\left(\frac79\right) _{11}$