For me, I've used those silver jewelry cloths for polishing.
For wax, I've used Renaissance Wax, but after some discussions with an professional antique restorator, I switched to natural Brazilian carnauba wax, (Trewax Pastewax)....and for the silver polish, Metarex Polishing Cloth was recommended which I have yet to try.
In Thailand, traditionally one method of silver polishing was using the natural fiber of the tamarind (fruit)