davek14, Ive been into knives for a couple years now and this is what I have gathered, both from lurking on BF and elsewhere. I may be wrong in some areas, so I encourage you to also cross reference with the other much better sources that reside here
Toughness is the ability to not snap under lateral stress (this includes chipping at the edge, which is just the steel snapping in a place where it is very thin). Tough steels tend to roll at the edge rather than chip, but steels that are both tough AND hard usually dont do either (the magical balance)
Carbon steel is very tough. When you get to stainlesses, it gets more complicated because you have to factor in all of the other elements that are added that form carbides in the steel. These carbides increase wear resistance, but usually have a negative effect on toughness. The different elements in their different proportions interact with one another in a delicate balance, with some elements being there as a way to increase toughness, and others to increase wear resistance and or corrosion resistance, etc. In general, stainless steels are less tough by nature than carbon steels. That said, the toughest carbon steels usually dont have the best wear resistance (which, along with hardness, edge geometry, etc, contributes to the edge retention of the steel)
In all steel, toughness relates in a complicated way to several factors, such as the chemical composition of the steel, the hardness it is run at, and how well it is heat treated. Each factor is interconnected with the others and makes for a very complicated system. For instance, if you took a blade of s30v and ran it to 64HRC, it would chip very easily. But if you took a compositionally tougher steel (meaning the chemical composition lends itself to toughness better) like m4, you could still get decent toughness at the same hardness. And with the ability to stay tough while having better edge retention from being run harder, m4 is therefore usually regarded as a "better" steel. But then if you did the same thing with the m4, but botched the heat treat, the end result would be bad regardless of whether you got the other factors right or not.
You see? Everything is interdependent and oh so complicated. But I digress. The main thing to know is most steels become less tough (more brittle) as they are taken to higher hardnesses, but just how hard you can run the steel depends on the chemical composition. "Better" steels are usually capable of being run harder without loosing too much of their toughness. This is because of their better composition and grain structure, but also can depend heavily on how well the heat treat is done. A bad heat treat can make s30v worse than 8cr13mov very easily.......
And this of course is all very simplified and in no way complete. Im still learning myself. (honestly, Im not sure if I even made any sense in this post.... but it made sense in my head!

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Welcome to the confusion

I think im getting to the point where id rather just enjoy the darn steel than try to understand it!