Morrowind - Easy armor and weapon

At the Dren Plantation, Look around until you find a dark elf guy wearing Dwemer armor.
I suggest if your level is fairly low that you turn on the infinite health cheat

(black, white, black, black, black, Hold A, Press B)

Then you should kill him (try sneaking up and hitting him).

Once you've killed him select his body and you should be able to get the Dwemer armor and even better, a Obsidian Broadsword. The armor is worth several thousand dollars, and the obsidian broadsword is worth somewhere around 15k I think.