Silver nitrate, or AgNO3, mixed with distilled water is a solution. A solution is a homogeneous mixture where one substance dissolves in another substance. Explained by ABetterChemText, the solute is broken down completely into individual ions or molecules. In water, AgNO3 disassociates into Ag+ ions and NO3- ions.
The maximum solubility of silver nitrate in water is 1,000 grams of silver nitrate, dissolved into 76.1 grams of water at 248 degrees Fahrenheit. By prescription, a 0.5-percent silver nitrate solution can be administered as a topical anti-infective. A 0.5-percent solution contains 0.005 grams of silver nitrate per 1 milliliter of water medium.