Daedric armor and weapons are the best equipment in the game. The armor is better than the Dragon scale armor by a few points, but it is harder to get all the required items together.

Before you even think about making some armor you need smithing on a high level. You can find a guide to leveling it quickly here:
http://auluftwaffles.com/skyrim-walkthrough/fast-leveling-skills/fast-leveling-smithing/
I recommend level 100 because you will be able to improve the armor better.

Next you will need some deadra hearths. There are two quests that I recommend doing. The first is "Pieces of the Past" which is a quest where you get a lame razor and 4 deadra hearths. You can find a guide for this quest here:
http://auluftwaffles.com/2012/01/06/skyrim-pieces-of-the-past/
The other quest that is good is the "Black Star" quest for which I will write a guide tomorrow. I will paste a link here once it is published.

You will also need some ebony ingots. I wrote a guide to getting around 21 of them and you can find it here:
http://auluftwaffles.com/2012/01/07/skyrim-finding-ebony-ore-to-make-ebony-ingots/
In the "Pieces of the Past" quest you will also find a few ebony ingots. The other items you need you can buy from a smith. I usually go to the smith in Riverwood because I know he has an armor upgrading table.