So basically:
Magic resist straight up reduces incoming magic damage. If you have 20% resist and a 10 damage spell hits you, it would deal 8 damage.
Absorb is an all or nothing chance the spell will even deal any damage and you absorb the incoming magicka of the spell. So if that 10 damage spell hits you and you have 50% spell absorb, 50% of the time you will get hurt by 10 damage and the other 50% of the time the spell will deal NO damage and you absorb the magicka.
Personally I don't like absorb due to the conjuration glitch where it absorbs summons AND it is silly overpowered. I like the balance and feel of magic resistance much better for a lot of my characters.
So basically:
Magic resist straight up reduces incoming magic damage. If you have 20% resist and a 10 damage spell hits you, it would deal 8 damage.
Absorb is an all or nothing chance the spell will even deal any damage and you absorb the incoming magicka of the spell. So if that 10 damage spell hits you and you have 50% spell absorb, 50% of the time you will get hurt by 10 damage and the other 50% of the time the spell will deal NO damage and you absorb the magicka.
Personally I don't like absorb due to the conjuration glitch where it absorbs summons AND it is silly overpowered. I like the balance and feel of magic resistance much better for a lot of my characters.