There really isn't much you can do about Silver tarnishing. It's just the nature of Silver.
Silver's a metal that reacts to chemicals. Whether it be chemicals in the air, or chemicals touching it.
Silver reacts!
That's why most Sterling Silver sold today is plated with a thin layer of metal protection. This process is called "Flashing", and they use either Silver or Rhodium to coat the outside of the Rings or Jewelry to make them look Whiter, Brighter, and to keep the tarnishing down to a minimum. So until that plating wears off, your Silver will actually hold up pretty well.
Here's a list of things that Silver has a bad reaction with: Wool, Rubber Bands, Latex Gloves, Oils from your Hands and Fingers, Ammonia, Chlorinated Water, Carpet Padding, Air Pollution, Perfumes, Hair Sprays, and believe it or not, some foods can even make Silver tarnish. Foods like: Onions, Mayonnaise, Salad Dressing, Eggs and Salty Foods. (Put down those Chips!)
In fact, just the humidity alone can cause Silver to corrode!
It's a never-ending battle.
The good thing is, it's easy to buff and clean Silver. It doesn't take much to polish up a Ring with a Polishing Cloth or a Jeweler's Buffing Wheel. Just a couple of minutes and your Silver Jewelry will look new again.
The best way to store your Silver Jewelry is in individually sealed poly bags or zip lock bags. Store it with those cute little Silica Gel Packs and it'll help remove any moisture from the air. It won't keep your Jewelry from tarnishing, but it will delay the process.
Cleaning your Silver Jewelry with warm water and drying it with a soft cloth after you wear it, will remove any oily residue and slow the process down as well.
Some people also advise storing your Jewelry with chalk just because it absorbs the toxins in the bag. Keeping your Jewelry in Tupperware or Rubbermaid Bins works great also. (Especially if you can seal them air-tight!)
But what's the best medicine for your Silver Jewelry tarnishing? Read on...