Skyrim:::Multiple Profiles

Can you create more than one profile on skyrim(For Xbox)? I don't want to try, because I don't want my level 54 dark elf to disappear.
I tried searching the internet, but no answers seemed clear.

Darth Crater wrote:Doesn't the game have multiple save slots? Unless you've just been using the autosave you shouldn't have to worry about losing anything when you start a new character.