USB hubs are fine.
...2 will be used for external hard drives....
Additional info: the hub may not have enough power to supply bus-powered hard drives. Highly recommended you get self-powered hard drives, ones that have their own individual power supply. In my experience, USB powered hard drives are usually just barely adequate and underpowered hard drives will cause data corruption.
Also, all devices on the hub will share the bandwidth of the one USB port. So if you try to read/write to both hard drives at the same time, it will be slower than accessing just one drive at a time. (Not trying to scare you off. Just for your awareness.)
Since you have a Macbook Pro, it would be wonderful if you could get Firewire drives instead. Firewire is faster than USB and most drives have multiple Firewire ports, so you "daisy chain" the drives together, eliminating the need for a Firewire hub. Again, advisable to get a self-powered hard drive, even for Firewire.