[guided]The goal is to show that every derivative of the product $ab$ is bounded by a constant times $m_1m_2$. Fix arbitrary multi-indices $\alpha,\beta \in \mathbb{N}_0^n$. Applying the ordinary product rule successively to the $x$ variables and then to the $\xi$ variables gives
\begin{align*}
\partial_x^\alpha\partial_\xi^\beta(ab)
=
\sum_{\gamma\leq \alpha}\sum_{\delta\leq \beta}
\binom{\alpha}{\gamma}\binom{\beta}{\delta}
(\partial_x^\gamma\partial_\xi^\delta a)
(\partial_x^{\alpha-\gamma}\partial_\xi^{\beta-\delta} b).
\end{align*}
This formula says that each derivative is distributed between the two factors: $\gamma,\delta$ derivatives land on $a$, and the remaining $\alpha-\gamma,\beta-\delta$ derivatives land on $b$.
For each fixed pair $\gamma\leq\alpha$ and $\delta\leq\beta$, the hypothesis $a\in S(m_1)$ gives a constant $A_{\gamma,\delta}>0$ satisfying
\begin{align*}
|\partial_x^\gamma\partial_\xi^\delta a(x,\xi)|
\leq
A_{\gamma,\delta}m_1(x,\xi)
\end{align*}
for every $(x,\xi)\in T^*\mathbb{R}^n$. Likewise, the hypothesis $b\in S(m_2)$ gives a constant $B_{\alpha-\gamma,\beta-\delta}>0$ satisfying
\begin{align*}
|\partial_x^{\alpha-\gamma}\partial_\xi^{\beta-\delta} b(x,\xi)|
\leq
B_{\alpha-\gamma,\beta-\delta}m_2(x,\xi)
\end{align*}
for every $(x,\xi)\in T^*\mathbb{R}^n$.
Multiplying these two inequalities gives, for every $(x,\xi)\in T^*\mathbb{R}^n$,
\begin{align*}
|(\partial_x^\gamma\partial_\xi^\delta a)(x,\xi)
(\partial_x^{\alpha-\gamma}\partial_\xi^{\beta-\delta} b)(x,\xi)|
\leq
A_{\gamma,\delta}B_{\alpha-\gamma,\beta-\delta}m_1(x,\xi)m_2(x,\xi).
\end{align*}
There are only finitely many pairs $\gamma,\delta$ with $\gamma\leq\alpha$ and $\delta\leq\beta$, so all constants can be summed into one constant. Define
\begin{align*}
C_{\alpha,\beta}
:=
\sum_{\gamma\leq \alpha}\sum_{\delta\leq \beta}
\binom{\alpha}{\gamma}\binom{\beta}{\delta}
A_{\gamma,\delta}B_{\alpha-\gamma,\beta-\delta}.
\end{align*}
Then $C_{\alpha,\beta}$ is finite and positive, and taking absolute values in the Leibniz formula gives
\begin{align*}
|\partial_x^\alpha\partial_\xi^\beta(ab)(x,\xi)|
\leq
C_{\alpha,\beta}m_1(x,\xi)m_2(x,\xi)
\end{align*}
for every $(x,\xi)\in T^*\mathbb{R}^n$. Since this is exactly the defining estimate for $ab\in S(m_1m_2)$, the product belongs to the product symbol class.[/guided]