This is something I have looked deep into as well while working on the Phantasy Star IV randomizer. From what I've gathered, there are a small handful that have certain resistances.
http://www.wrftpb.com/psiv/htm/ps4-equip10.htmThis is an easy to read format on what items do what as far as factors/resistances. But to put it easily:
1. Ceramic Shield, Mail, Helm, Armor, and Gear resists Fire (though why Wren and Demi would need fire resistance for is beyond me since they have a natural defense to it).
2. Psychic Mail, Shield, Helm, and Crown have resistances to "Psychic" attacks. Generally, these are anything that lowers any of your stats or puts you to sleep. The Psychic Robe does NOT have this resistance.
3. Plasma Field resists Energy/Laser type attacks. This is actually very important in a speedrun setting as the Triplets in the Air Castle use Thunderblast, which the Plasma Field can completely block, making the fight more manageable.
4. Zircon Armor also resists Fire. Again, sort of moot with Demi and Wren's resistances.
5. Elast Armor/Gear and Mahlay Mail have resistances to physical attacks. however, from what I recall this resistance is only applicable during an ambush. This is a bug in the programming I believe.
6. Palma Ring has a resistance to Electric damage
7. Mota Ring has a resistance to Fire damage
8. Dezo Ring has a resistance to Ice damage
The speedrunning community has tried to find a way to resist Profound Darkness' Megid attack, but alas, there is NO resistance to factor 6 (aka Anti-Evil). If there were, the final boss would be a cakewalk at lower levels. As it stands now, I think the lowest anybody has ever killed the game was with Chaz at Level 29 or 30, and even then it takes a lot of skill.
As far as weapons go, most weapons have a Physical attack property to it, though there are exceptions.
1. Photon Eraser as well as Laser, Plasma, Laconia, Guard, and Pulse Weapons have an Energy/Laser property to it.
2. Napalm Shot and Flame Sword have a Fire property to it. Lashiec is very weak to Fire.
3. Thunder Claw is the only weapon with the Electric property to it. Strong against any machine.
4. Psycho Wand, Silver Tusk, and Elsydeon have an "Anti-Evil" property to it. It is the same Element as the Tsu line of techs and Megid as well. Profound Darkness is very weak to this element. Rika will actually do much more damage to most bosses with a Silver Tusk and another claw than with two of a stronger claw.