You're figuring everything correctly so far. Make any saving throws, calculate how much damage is applied, then reduce that damage by any resistances that might exist. Someone who is 100% fire resistant suffers the effects of an Incendiary Cloud spell (they are hit) but suffer no damage. Having more than 100% resistance to something doesn't heal anyone, at least not that I have observed.
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Everything may be explained by a conspiracy theory. All conspiracy theories are true.
No matter how thinly you slice it, it's still bologna.
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