Below I've compiled a short list of some of the movies that have captured the stories of true martial artists.
Huo Yuanjia: A man who restored the confidence of the Chinese people during a time in history when the rest of the world considered the Chinese to be less than other people. Many martial arts movies are either about his life, or the mysterious circumstances of his death. The movies are The Chinese Connection, Fist of Legend, and Fearless.
Wong Fei-Hung: A famous martial artist, doctor, acupuncturist, and folk hero. Many martial arts movies are based on his life such as Iron Monkey, Drunken Master (1 and 2), Once Upon a Time in China 1-4,
Wong Kei-Ying: He was Wong Fei-Hung's father. He was also a martial artist, doctor, and acupuncturist. He has been featured in many movies but mostly in the role of Fei-Hung's father. He was in Iron Monkey, and the Drunken Master series. He is depicted as a strict but caring father.
Ip Man: The recent movie "The Grandmaster" is about him as he was the Grandmaster of the Wing Chun kung fu system made popular by Bruce Lee. There were already three Ip Man movies released in China.