Explanation of SM
Explanation of and etymology for the term SM in BDSM
SM (Sm, S&M, S&m, S/M, S/m, SoM) means sadomasochism or sometimes sadism and masochism. Since the terms sadism and masochism often refer to the pathological, ruthless or self-destructive states, the term sadomasochism is preferred in BDSM. This term also emphasizes the necessary consent and mutuality in BDSM relationships.
Etymology
The terms "sadism", "masochism" and "sado-masochism" was instated by the Austrian psychiatrist and sexual researcher Richard von Krafft-Ebing in one of his papers from 1886 already. When the acronyms "S&M", "S/M" or "SM" appeared have not been established, but they are in common use in both American and German BDSM personals from the mid 1970's, so a good guess is that the acronyms found more general use among BDSM-interested people during the "sexual revolution" in the late 1960's and early 1970's.
The above etymological information was compiled mainly from BDSM magazines and the UseNet archive on the Internet. Probably none of the terms first found on UseNet have their origin there, but have been instated in discussions within BDSM organizations, and come in more wide use through BDSM BBS's (dial-up electronic bulletin board services that were popular from the end of the 1970's until some time after the Internet boom in the 1990's). But the terms appearing on UseNet after the Internet boom have probably been spread there rather quickly after they have been instated at other forums.