It depends on your perspective. To be sure, The Bodyguard soundtrack is identified with Whitney Houston solely, she headlined the project, it was her film, and her songs were the significant singles. People aren't like "oh yeah that S.O.U.L.S.Y.S.T.E.M. album The Bodyguard"
But also to be sure, Whitney's tracks are just half the album. It's not a proper studio album. So if you want to be completely technical, Shania Twain has the top selling studio album by a female artist. Even Whitney herself acknowledged upon the release of My Love Is Your Love that she had not recorded a proper album in eight years.