Big differences! Stainless usually has around 10-12% minimum chromium content plus some Nickel, both of which help to make it corrosion resistant, many, many different grades, and differing properties. Austentic (300 series) the most corrosion resistant with 316, the 400 series stainless (ferritic/martensitic) is easier to machine and is magnetic.However, I have observed magnetism in small sections (insulin syringe needles) of 316 stainless, after some work has been performed on them. Most Stainless can't readily be hardened through heat treatment, but some will work harden in the blink of an eye (304..)
Silver Steel is a high carbon, low chromium (<0.5%) Tool steel, 'silver' is an old description that's stuck, from when Chromium was added and gave it a bright appearance. A reasonably tough steel in its as supplied (annealed) form, can be easily flame hardened, and has many, many, uses.Making blades, taps, tools, wear plates…lots more.
What you need to do is get yourself across to http://www.westyorkssteel.com and spend some reading time there – well worth it!
I would guess that what you have is stainless – I've never heard silver steel shortened to s/steel – but cut a tiny bit off and try and flame harden it , and that will definitely tell you