The problem is that deep recesses such as blind bolt holes with bolts in them or deep cracks do have very low oxygen levels. Stainless steel is passivated with a surface layer of chromium oxide which deteriorates if there is not enough oxygen present. Once this has started, the oxygen down the bottom of the hole gets scavenged by reaction with the iron, leaving the passivation layer in even worse condition. Diffusion down the hole is too slow to make up for the losses so the passivation layer never reforms and the corrosion continues - slowly but inexorably.
This is a well known problem - there is plenty of literature about it and there have been some spectacular industrial accidents caused by designers failing to pay attention to it.
Here is a quotation from the website of a manufacturer of stainless steel:
John