Camerone
Contributor
Agreed. Trying to use steel wool to clean off a stainless part is about the worst thing you could do to that knife, and will only cause more rust in short order.You should never use steel wool on a stainless blade. Small pieces of steel will embed themselves into the surface of the stainless and cause it to rust. Bronze wool or stainless wool may be acceptable but the best material to use is green Scotchbrite.
If you did make this mistake and used steel wool, you will need to passivate the knife to prevent future rust. The first step is cleaning thoroughly with a degreaser, like Simple Green, and then a thorough rinse. Wear gloves so you don't get skin oils on the blade.
Then, for stainless, passivation is done with a warm/hot solution of nitric acid. Depending on the grade of stainless used in making the knife, you could also do this in a strong citric acid solution (more environmentally friendly, and, generally, easier to obtain.) However, the citric acid passivations don't work nearly as well as the nitric acid ones and are still prone to rusting.
The folk rememdy of "Coca Cola" may work due to the phosphoric acid in the soda, but it's not particularly proven, and the concentration of acid is quite weak. It will take a very long time to be effective, if it works at all.
If you haven't damaged the stainless with steel wool, yet, stick to the Scotchbrite green as captndale suggests...