Mathematica 116 114 bytes
With several bytes saved thanks to Misha Lavrov.
Last@FindPath[Graph[Rule@@@Cases[Tuples[Tuples[{0,1},{l=Length@#}],{2}],x_/;Count[Plus@@x,1]==1]],##,{1,2^l},Alll]&
Input (8 dimensions)
[{1,0,0,1,0,0,0,1},{1,1,0,0,0,0,1,1}]//AbsoluteTiming
Output (length = 254, after 1.82 seconds)
{1.82393, {{1, 0, 0, 1, 0, 0, 0, 1}, {0, 0, 0, 1, 0, 0, 0, 1}, {0, 0, 0, 0, 0, 0, 0, 1}, {0, 0, 0, 0, 0, 0, 0, 0}, {0, 0, 0, 0, 0, 0, 1, 0}, {0, 0,0, 0, 0, 0, 1, 1}, {0, 0, 0, 0, 0, 1, 1, 1}, {0, 0, 0, 0, 0, 1, 0, 1}, {0, 0, 0, 0, 0, 1, 0, 0}, {0, 0, 0, 0, 0, 1, 1, 0}, {0, 0, 0, 0,1, 1, 1,0}, {0, 0, 0, 0, 1, 0, 1, 0}, {0, 0, 0, 0, 1, 0, 0, 0}, {0, 0, 0, 0, 1, 0, 0, 1}, {0, 0, 0, 0, 1, 0, 1, 1}, {0, 0, 0, 0,1, 1, 1, 1}, {0, 0, 0, 0, 1, 1, 0, 1}, {0, 0, 0, 0, 1, 1, 0, 0}, {0, 0, 0, 1, 1, 1, 0, 0}, {0, 0, 0, 1, 0, 1, 0, 0}, {0, 0, 0, 1,0, 0, 0, 0}, {0, 0, 0, 1, 0, 0, 1, 0}, {0, 0, 0, 1, 0, 0, 1, 1}, {0, 0, 0, 1, 0, 1, 1, 1}, {0, 0, 0, 1, 0, 1, 0, 1}, {0, 0, 0, 1, 1, 1, 0, 1}, {0, 0, 0, 1, 1, 0, 0, 1}, {0, 0, 0, 1, 1, 0, 0, 0}, {0, 0, 0, 1, 1, 0, 1, 0}, {0, 0, 0, 1, 1, 0, 1, 1}, {0, 0, 0, 1,1, 1, 1, 1}, {0, 0, 0, 1, 1, 1, 1, 0}, {0, 0, 0, 1, 0, 1, 1, 0}, {0, 0, 1, 1, 0, 1, 1, 0}, {0, 0, 1, 0, 0, 1, 1, 0}, {0, 0, 1, 0,0, 0, 1, 0}, {0, 0, 1, 0, 0, 0, 0, 0}, {0, 0, 1, 0, 0, 0, 0, 1}, {0, 0, 1, 0, 0, 0, 1, 1}, {0, 0, 1, 0, 0, 1, 1, 1}, {0, 0, 1, 0,0, 1, 0, 1}, {0, 0, 1, 0, 0, 1, 0, 0}, {0, 0, 1, 0, 1, 1, 0, 0}, {0, 0, 1, 0, 1, 0, 0, 0}, {0, 0, 1, 0, 1, 0, 0, 1}, {0, 0, 1, 0,1, 0, 1, 1}, {0, 0, 1, 0, 1, 0, 1, 0}, {0, 0, 1, 0, 1, 1, 1, 0}, {0, 0, 1, 0, 1, 1, 1, 1}, {0, 0, 1, 0, 1, 1, 0, 1}, {0, 0, 1, 1,1, 1, 0, 1}, {0, 0, 1, 1, 0, 1, 0, 1}, {0, 0, 1, 1, 0, 0, 0, 1}, {0, 0, 1, 1, 0, 0, 0, 0}, {0, 0, 1, 1, 0, 0, 1, 0}, {0, 0, 1, 1,0, 0, 1, 1}, {0, 0, 1, 1, 0, 1, 1,1}, {0, 0, 1, 1, 1, 1, 1, 1}, {0, 0, 1, 1, 1, 0, 1, 1}, {0, 0, 1, 1, 1, 0, 0, 1}, {0, 0, 1, 1,1, 0, 0, 0}, {0, 0, 1, 1, 1, 0, 1, 0}, {0, 0, 1, 1, 1, 1, 1, 0}, {0, 0, 1, 1, 1, 1, 0, 0}, {0, 0, 1, 1, 0, 1, 0, 0}, {0, 1, 1, 1,0, 1, 0, 0}, {0, 1, 0, 1, 0, 1, 0, 0}, {0, 1, 0, 0, 0, 1, 0, 0}, {0, 1, 0, 0, 0, 0, 0, 0}, {0, 1, 0, 0, 0, 0, 0, 1}, {0, 1, 0, 0,0, 0, 1, 1}, {0, 1, 0, 0, 0, 0, 1, 0}, {0, 1, 0, 0, 0, 1, 1, 0}, {0, 1, 0, 0, 0, 1, 1, 1}, {0, 1, 0, 0, 0, 1, 0, 1}, {0, 1, 0, 0,1, 1, 0, 1}, {0, 1, 0, 0, 1, 0, 0, 1}, {0, 1, 0, 0, 1, 0, 0, 0}, {0, 1, 0, 0, 1, 0, 1, 0}, {0, 1, 0, 0, 1, 0, 1, 1}, {0, 1, 0, 0,1, 1, 1, 1}, {0, 1, 0, 0, 1, 1, 1, 0}, {0, 1, 0, 0, 1, 1, 0,0}, {0, 1, 0, 1, 1, 1, 0, 0}, {0, 1, 0, 1, 1, 0, 0, 0}, {0, 1, 0, 1,0, 0, 0, 0}, {0, 1, 0, 1, 0, 0, 0, 1}, {0, 1, 0, 1, 0, 0, 1, 1}, {0, 1, 0, 1, 0, 0, 1, 0}, {0, 1, 0, 1, 0, 1, 1, 0}, {0, 1, 0, 1,0, 1, 1, 1}, {0, 1, 0, 1, 0, 1, 0, 1}, {0, 1, 0, 1, 1, 1, 0, 1}, {0, 1, 0, 1, 1, 0, 0, 1}, {0, 1, 0, 1, 1, 0, 1, 1}, {0, 1, 0, 1,1, 0, 1, 0}, {0, 1, 0, 1, 1, 1, 1, 0}, {0, 1, 0, 1, 1, 1, 1, 1}, {0, 1, 1, 1, 1, 1, 1, 1}, {0, 1, 1, 0, 1, 1, 1, 1}, {0, 1, 1, 0,0, 1, 1, 1}, {0, 1, 1, 0, 0, 0, 1, 1}, {0, 1, 1, 0, 0, 0, 0, 1}, {0, 1, 1, 0, 0, 0, 0, 0}, {0, 1, 1, 0, 0, 0, 1, 0}, {0, 1, 1, 0,0, 1, 1, 0}, {0, 1, 1, 0, 0, 1, 0, 0}, {0, 1, 1, 0, 0, 1, 0, 1}, {0, 1, 1, 0, 1, 1, 0, 1}, {0, 1, 1, 0, 1, 0, 0, 1}, {0, 1, 1, 0,1, 0, 0, 0}, {0, 1, 1, 0, 1, 0, 1, 0}, {0, 1, 1, 0, 1, 0, 1, 1}, {0, 1, 1, 1, 1, 0, 1, 1}, {0, 1, 1, 1, 0, 0, 1, 1}, {0, 1, 1, 1,0, 0, 0, 1}, {0, 1, 1, 1, 0, 0, 0, 0}, {0, 1, 1, 1, 0, 0, 1, 0}, {0, 1, 1, 1, 0, 1, 1, 0}, {0, 1, 1, 1, 0, 1, 1, 1}, {0, 1, 1, 1,0, 1, 0, 1}, {0, 1, 1, 1, 1, 1, 0, 1}, {0, 1, 1, 1, 1, 0, 0, 1}, {0, 1, 1, 1, 1, 0, 0, 0}, {0, 1, 1, 1, 1, 0, 1, 0}, {0, 1, 1, 1,1, 1, 1, 0}, {0, 1, 1, 0, 1, 1, 1, 0}, {0, 1, 1, 0, 1, 1, 0, 0}, {0, 1, 1, 1, 1, 1, 0, 0}, {1, 1, 1, 1, 1, 1, 0, 0}, {1, 0, 1, 1,1, 1, 0, 0}, {1, 0, 0, 1, 1, 1, 0, 0}, {1, 0, 0, 0, 1, 1, 0, 0}, {1, 0, 0, 0, 0, 1, 0, 0}, {1, 0, 0, 0, 0, 0, 0, 0}, {1, 0, 0, 0,0, 0, 0, 1}, {1, 0, 0, 0, 0, 0, 1, 1}, {1, 0, 0, 0, 0, 0, 1, 0}, {1, 0, 0, 0, 0, 1, 1, 0}, {1, 0, 0, 0, 0, 1, 1, 1}, {1, 0, 0, 0,0, 1, 0, 1}, {1, 0, 0, 0, 1, 1, 0, 1}, {1, 0, 0, 0, 1, 0, 0, 1}, {1, 0, 0, 0, 1, 0, 0, 0}, {1, 0, 0, 0, 1, 0, 1, 0}, {1, 0, 0, 0,1, 0, 1, 1}, {1, 0, 0, 0, 1, 1, 1, 1}, {1, 0, 0, 0, 1, 1, 1, 0}, {1, 0, 0, 1, 1, 1, 1, 0}, {1, 0, 0, 1, 0, 1, 1, 0}, {1, 0, 0, 1,0, 0, 1, 0}, {1, 0, 0, 1, 0, 0, 0, 0}, {1, 0, 0, 1, 0, 1, 0, 0}, {1, 0, 0, 1, 0, 1, 0, 1}, {1, 0, 0, 1, 0, 1, 1, 1}, {1, 0, 0, 1,0, 0, 1, 1}, {1, 0, 0, 1, 1, 0, 1, 1}, {1, 0, 0, 1, 1, 0, 0, 1}, {1, 0, 0, 1, 1, 0, 0, 0}, {1, 0, 0, 1, 1, 0, 1, 0}, {1, 0, 1, 1,1, 0, 1, 0}, {1, 0, 1, 0, 1, 0, 1, 0}, {1, 0, 1, 0, 0, 0, 1, 0}, {1, 0, 1, 0, 0, 0, 0, 0}, {1, 0, 1, 0, 0, 0, 0, 1}, {1, 0, 1, 0,0, 0, 1, 1}, {1, 0, 1, 0, 0, 1, 1, 1}, {1, 0, 1, 0, 0, 1, 0, 1}, {1, 0, 1, 0, 0, 1, 0, 0}, {1, 0, 1, 0, 0, 1, 1, 0}, {1, 0, 1, 0,1, 1, 1, 0}, {1, 0, 1, 0, 1, 1, 0, 0}, {1, 0, 1, 0, 1, 0, 0, 0}, {1, 0, 1, 0, 1, 0, 0, 1}, {1, 0, 1, 0, 1, 0, 1, 1}, {1, 0, 1, 0,1, 1, 1, 1}, {1, 0, 1, 0, 1, 1, 0, 1}, {1, 0, 1, 1, 1, 1, 0, 1}, {1, 0, 0, 1, 1, 1, 0, 1}, {1, 0, 0, 1, 1, 1, 1, 1}, {1, 0, 1, 1,1, 1, 1, 1}, {1, 0, 1, 1, 0, 1, 1, 1}, {1, 0, 1, 1, 0, 0, 1, 1}, {1, 0, 1, 1, 0, 0, 0, 1}, {1, 0, 1, 1, 0, 0, 0, 0}, {1, 0, 1, 1,0, 0, 1, 0}, {1, 0, 1, 1, 0, 1, 1, 0}, {1, 0, 1, 1, 0, 1, 0, 0}, {1, 0, 1, 1, 0, 1, 0, 1}, {1, 1, 1, 1, 0, 1, 0, 1}, {1, 1, 0, 1,0, 1, 0, 1}, {1, 1, 0, 0, 0, 1, 0,1}, {1, 1, 0, 0, 0, 0, 0, 1}, {1, 1, 0, 0, 0, 0, 0, 0}, {1, 1, 0, 0, 0, 0, 1, 0}, {1, 1, 0, 0,0, 1, 1, 0}, {1, 1, 0, 0, 0, 1, 0, 0}, {1, 1, 0, 0, 1, 1, 0, 0}, {1, 1, 0, 0, 1, 0, 0, 0}, {1, 1, 0, 0, 1, 0, 0, 1}, {1, 1, 0, 0,1, 0, 1, 1}, {1, 1, 0, 0, 1, 0, 1, 0}, {1, 1, 0, 0, 1, 1, 1, 0}, {1, 1, 0, 0, 1, 1, 1, 1}, {1, 1, 0, 0, 0, 1, 1, 1}, {1, 1, 0, 1,0, 1, 1, 1}, {1, 1, 0, 1, 0, 0, 1, 1}, {1, 1, 0, 1, 0, 0, 0, 1}, {1, 1, 0, 1, 0, 0, 0, 0}, {1, 1, 0, 1, 0, 0, 1, 0}, {1, 1, 0, 1,0, 1, 1, 0}, {1, 1, 0, 1, 0, 1, 0, 0}, {1, 1, 0, 1, 1, 1, 0, 0}, {1, 1, 0, 1, 1, 0, 0, 0}, {1, 1, 0, 1, 1, 0, 0, 1}, {1, 1, 0, 1,1, 0, 1, 1}, {1, 1, 0, 1, 1, 0, 1, 0}, {1, 1, 0, 1, 1, 1, 1, 0}, {1, 1, 0, 1, 1, 1, 1, 1}, {1, 1, 0, 1, 1, 1, 0, 1}, {1, 1, 0, 0,1, 1, 0, 1}, {1, 1, 1, 0, 1, 1, 0, 1}, {1, 1, 1, 0, 0, 1, 0, 1}, {1, 1, 1, 0, 0, 0, 0, 1}, {1, 1, 1, 0, 0, 0, 0, 0}, {1, 1, 1, 0,0, 0, 1, 0}, {1, 1, 1, 0, 0, 1, 1, 0}, {1, 1, 1, 0, 0, 1, 0, 0}, {1, 1, 1, 0, 1, 1, 0, 0}, {1, 1, 1, 0, 1, 0, 0, 0}, {1, 1, 1, 0,1, 0, 0, 1}, {1, 1, 1, 0, 1, 0, 1, 1}, {1, 1, 1, 0, 1, 0, 1, 0}, {1, 1, 1, 0, 1, 1, 1, 0}, {1, 1, 1, 0, 1, 1, 1, 1}, {1, 1, 1, 0,0, 1, 1, 1}, {1, 1, 1, 1, 0, 1, 1, 1}, {1, 1, 1, 1, 0, 1, 1, 0}, {1, 1, 1, 1, 0, 0, 1, 0}, {1, 1, 1, 1, 0, 0, 0, 0}, {1, 1, 1, 1,0, 0, 0, 1}, {1, 1, 1, 1, 1, 0, 0, 1}, {1, 1, 1, 1, 1, 1, 0, 1}, {1, 1, 1, 1, 1, 1, 1, 1}, {1, 1, 1, 1, 1, 1, 1, 0}, {1, 1, 1, 1,1, 0, 1, 0}, {1, 1, 1, 1, 1, 0, 0, 0}, {1, 0, 1, 1, 1, 0, 0, 0}, {1, 0, 1, 1, 1, 0, 0, 1}, {1, 0, 1, 1, 1, 0, 1, 1}, {1, 1, 1, 1,1, 0, 1, 1}, {1, 1, 1, 1, 0, 0, 1, 1}, {1, 1, 1, 0, 0, 0, 1, 1}, {1, 1, 0, 0, 0, 0, 1, 1}}}
Tuples[{0,1},{l=Length@#}],{2}]& generates the numbers 0...8 as binary lists.
The outer Tuples...{2} produces all ordered pairs of those binary numbers.
Plus@@x sums each of the pairs, generating triplets of 0, 1.
Cases....Count[Plus@@x, 1]==1 returns all of the sums that contain a single 1. These arise when the two original binary numbers are connected by an edge.
Rules connects the vertices of the graph, each vertex being a binary number.
Graph creates a graph corresponding to said vertices and edges.
FindPath finds up to 2^n paths connecting vertex a to vertex b, the given numbers.
Last takes the longest of these paths.
For three dimensions, the graph can be represented in a plane as shown here:

For the input, {0,0,0}, {1,1,1}, the following is output:
{{{0, 0, 0}, {0, 0, 1}, {0, 1, 1}, {0, 1, 0}, {1, 1, 0}, {1, 0,
0}, {1, 0, 1}, {1, 1, 1}}}
This path can be found in the above graph.
It can also be conceived as the following path in 3-space,
where each vertex corresponds to a point {x,y,z}. {0,0,0} represents the origin and {1,1,1} represents the "opposite" point in a unit cube.
So the solution path corresponds to a traversal of edges along the unit cube. In this case, the path is Hamiltonian: it visits each vertex one time (i.e. with no crossings and no vertices omitted).

1Can we also take boolean values instead of ones and zeros? – flawr – 2017-09-30T19:59:47.707
@flawr Sure, that's fine. – Misha Lavrov – 2017-09-30T20:05:02.997
May we assume we will not receive two equal bit-strings (or that we may do anything if so)? – Jonathan Allan – 2017-09-30T23:00:23.467
1@JonathanAllan Yes, let's assume that the bit-strings are not equal. – Misha Lavrov – 2017-09-30T23:04:44.610
Related – Leaky Nun – 2017-10-01T00:14:00.877
Never mind that comment, close vote retracted. – caird coinheringaahing – 2017-10-01T00:21:59.757
@LeakyNun The Gray code gives us the "go from
00...00to00...01" case of this problem. (And, of course, it can be tweaked for other cases where the start and end are adjacent.) But it would be interesting if there's a more general solution along those lines. – Misha Lavrov – 2017-10-01T00:24:08.080Can I take input as
0binput... – Stan Strum – 2017-10-01T17:59:31.170@StanStrum Assuming that you mean "as binary integers" then I've said in the rules that you can't. – Misha Lavrov – 2017-10-01T18:01:21.920