Stainless steel is an alloy of iron and chromium that is commonly used in orthodontic appliances. It exists in three forms - austenitic, martensitic, and ferritic - with austenitic stainless steel being the most corrosion resistant. Stainless steel was first developed accidentally in the early 1900s and introduced for dental and orthodontic use in the 1930s, where it is still widely used today for wires, brackets, and other components. While stainless steel has advantages like strength and cost-effectiveness, it has limitations such as lower springback than nickel-titanium alloys and needing more frequent activations during treatment.