First of all, it should be noted that it's now possible to boot from USB, bypassing the need for a microSD card, though the feature is classed as experimental:
https://www.raspberrypi.org/documentation/hardware/raspberry...
You could also use network boot:
https://www.raspberrypi.org/documentation/hardware/raspberry...
To answer your question directly, yes there are Linux distros that minimise/eliminate SD card usage. Aside from being able to mount the SD storage as a read-only device (like you can with live Linux CDs), there are some minimal distros that boot to RAM. One example is Tiny Core Linux:
http://tinycorelinux.net/welcome.html
Latest RPi build is was released only a few months ago:
For Pi Zero:
http://tinycorelinux.net/9.x/armv6/releases/RPi/
For Pi 3:
http://tinycorelinux.net/9.x/armv7/releases/RPi/
As a last bit of advice, there are quite a few different storage options available for the Raspberry Pi. Here's one that you may be interested in (you can buy the hard drive seperately if you didn't want to use the Raspberry Pi Zero):
http://wdlabs.wd.com/products/pidrive-node-zero/