Image title wrapped by link with another title. Does it make sence for SEO?

I hope i have simply. I'd like to ask you if it matter make link title which wraps image and the image has it own title too.

<a class="cboxElement"
  title="xxx"
  href="yyy"
  rel="gallery">
<img src="zzz"
  alt="hhh"  
  title="www" />
</a>

For images i usually write alt tag and title. And for standart links i use title too. But im not sure in this case because for 1 image i use 2 titles and i can't display them both in the same time when i mouse over it.

Does it make sence have only 1 title for image and for link in this case remove it?