Steelhead are known for being finicky. Use small hooks, light line, "invisible" (flouro) leader if you can with a micro swivel. I am a firm believer in always carrying a couple dozen worms with me, vs. my buddy who will use roe basically all day. If neither appeal to you I would use 1" yarn flies or clusters sacks, some trout flies/woolley buggers, small pink worms (I really don't know why pink, just going with the flow on this one, they work lol), and single egg beads (you put them on your leader and I personally jam a toothpick in there to keep them pegged 2" above the hook). Flies really seem to work when even the kitchen sink isn't, but still personally my ol' faithful is definitely a fat nightcrawler. Take a peak at your water, do you see eggs or flies drifting by? Match.
As for how to fish them, base that on the conditions and your ambition. Nothing beats some nice drifts and watching your float sink, however if you want to relax with a can and a lawn chair, if there aren't many snags around then go ahead and still fish/bottom bounce (make sure to keep your bait off the bottom though). You can do this with either just split shots, Carolina rig, or a 3 way swivel. Is there enough of a current to drift? If not, usually pointless to have your float sit in one spot. Is the wind going to impede drifts? Maybe stay on the bottom then.
One thing I feel like I need to add, and I feel like I am giving out a secret even though it is so darn obvious: if the 20 guys around you are all still fishing/float fishing using bait and NOT catching anything - USE SOMETHING DIFFERENT! If you want the fish and you are seeing none being caught using the methods most dudes tend to default too (float/bottom bouncing) then rig up a spinner, spoon, or small crank bait and start chucking. Can't tell you how many times I wanted to be lazy but my gut told me I won't catch fish the same way the 20 guys beside me are failing, throw on a spinner, and then next thing you know I got 2 on the bank and everyone is starting to change to spinners. Or vice versa, I was just super bored watching my rod tip to start bouncing and start chucking to kill some time and what do you know? Some of my most productive steelhead days have been off of lures, I'm DONE watching that stupid glow stick on my float before sun rise, I will always chuck till I can actually see the float, then I will float a bit, by then I should see around me what they are (or aren't) being caught on and then adapt. I know it's a catch 22, do you use what you know works and have faith or do you switch it up, me personally I switch things up frequently and have had success, maybe cuz I have piss poor luck and can't rely on the trout hitting my roe vs. the 20 other row sacks on hooks around me on a slow day.
