Are you looking for the enchantment, or the spell? The Absorb Health enchantment is fairly rare, but can be found randomly in shopkeeper's goods for sale, and also on the Blade of Woe.
Spoiler I got the Blade of Woe early by doing the first Dark Brotherhood mission, but killing Astrid in the Abandoned house and starting "Destroy The Dark Brotherhood!".
The Absorb Health spell is only available to vampires, unfortunately, and cannot be carried over once cured of vampirism. Still that's not much of a loss, since it's very weak, sort of like Flames, but costs more mana, and deals less damage per second. If the spell was any stronger, though, it would be one of the only offensive spells in the game anyone would use, unless they were proper role-players.