You can have a multiplicative inverse of 0 if 0 = 1. This results in a field with only a single element.
To be fair this is mathematical pedantry when we're talking about trivial objects. But in principle it's meaningful because every field you can construct will lose critical properties if you allow one element to be both the additive and multiplicative identity. Unfortunately authors don't always make it clear that you need both existence and uniqueness when they state the field axioms.