In Demon’s Souls for the PS3, death is a huge burden. You lose all of your souls, and it’s just generally a frustrating ordeal. There is a way to cheat death however if you do happen to die.
Right as you die, press the PS button and quit your game before it has time to auto-save. If you restore your game you will load your last auto-save and keep all of your souls you would have lost by dying. Depending on the level you’re on, it may take you back a little way, but it’s generally much better than dying.