difference between absorb and resistances

I have a couple questions.
1.) What is the difference between absorb's and resistances
2.) Do either of these 2 reduce dmg from bone spirit or fist of heavens

Absorb = You get life when you are hit by a element
Resistance = Reduces the dmg made by a element

Bone Spirit = Magic dmg, i dont know if the resistance reduces / increase the dmg , and there are curently none magic absorb active

Fist of Heavens = Lightning dmg, so resistance and absorb does reduce the dmg

You need good res to make absorb do it's job right so you need them both so screw the difference in my opinion

GOod resistances= leet
Absorb= n00b

So if I have maxed resistances (90%) on my Pally (because of armor), and I get some nice absorb on him too, will I be able to actually gain life when I'm hit?

Titusfied

definatelly you will gain life

and one melee hit will rape you