Also from John’s website…
"As with aluminum, the corrosion inhibitor in stainless steel is the passive oxide layer that protects the surface. The 300-series alloys (a.k.a. 18-8 alloys) commonly used in the brewing industry are very corrosion-resistant to most chemicals. Unfortunately, chlorine is one of the few chemicals to which these steels are not resistant. The chlorine in bleach acts to destabilize the passive oxide layer on steel, creating corrosion pits. This type of attack is accelerated by localization and is generally known as crevice or pitting corrosion.
Many brewers have experienced pinholes in stainless-steel vessels that have been filled with a bleach-water solution and left to soak for several days. On a microscopic scale, a scratch or crevice from a gasket can present a localized area where the surface oxide can be destabilized by the chlorine. The chlorides can combine with the oxygen, both in the water and on the steel surface, to form chlorite ions, depleting that local area of protection. If the water is not circulating, the crevice becomes a tiny, highly active site relative to the more passive stainless steel around it and corrodes. The same thing can happen at the liquid surface if the pot is only half full of bleach solution. A dry stable area above, a less stable but very large area below, and the crevice corrosion occurs at the waterline. Usually this type of corrosion will manifest as pitting or pinholes because of the accelerating effect of localization."