You can try and get 100% spell absorbtion, but I believe that that, as well as resist magicka, is capped at 80% as well.
I mean you can make armor that reduces damage to almost 0... but if the armor cap is only 80% how is that possible?
Keep in mind that difficulty affects how much damage you take, having high health makes normal damage attacks do relatively nothing to your health bar, and that some enemies don't level up as you do, and most enemies in dungeons are locked to that level the first time you visit that dungeon, meaning 90% of the enemies won't scale up after you first fight them. There are a few enemies in some dungeons at least that WILL level up with you.
Also, having 100 in block and using a shield will reduce the damage AFTER armor rating down by 80%, so with both of those, you'll reduce damage down to 4%. FOUR PERCENT!
The World's Most Interesting Man: I don't always herp, but when I do, I derp.