There is not much to the power steering system. Where is the puddle in relation to the engine bay?

 

There are no "normal" spots for power steering fluid to leak out. It could from the res, an "O" ring, a line, or a fitting.
In your case, it sounds like it's up top somwhere, versus below the pump. A rough guess might be the feed line from the res to the pump itself. You might try putting a decent sized piece of cardboard under the left side (from the front bumper to about the door) and see where it drips after topping it up and running the engine. That might give you a better idea on where to start looking for your leak.

On my 99, it was on the curve right out of the steering box, on the return line. It would leak out both under pressure and just from topping it up (left a puddle I had no trouble seeing). The rest of the lines were pretty rusting looking too, so I ended up replacing the entire return line set up, as I didn't want to get in there again. My buddies S-Blazer had the cooler line let go a couple of weeks ago. He didn't know it even had a cooler on it (he's owned it for 13 years). But then his wife drives it, not him.
Others have had the " O" ring on the res fail, while others have had it fail on the pump itself.

 

So maybe(?) the oil on the alternator is sending you on a wild-goose-chase. If it's capable of draining the PS reservoir this quickly, then it's a lot more than an oily stain on the alternator.

The biggest place for PS fluid to leak out WITHOUT making a puddle is inside the steering rack. The fluid leaks past the piston seals, and "fills up" the rubber boot at one end or the other of the steering rack. Those large rubber boots are not supposed to contain fluid - only air in there. So there is a large volume to fill with fluid before it starts leaking out. Does this make any sense to your situation?

 

That makes the most sense as when I refilled the reservoir it all most completely emptied but the puddle on the ground wasn't that large. Now that ive filled it a second time it has stayed pretty level indicating that it is now slowly from the steering rack. I discovered that the PS pump is also leaking and has a bad seal so I have a rebuild kit on the way to solve that problem. No the question is how do I solve the steering rack problem?

 

The steering rack can be rebuilt, in theory. In real life, most people choose to get a remanufactured rack. Part of that might be difficulty getting the kit of parts vs. easy to get a whole rack. And even with new seals, sometimes that isn't enough if the cylinder walls are pitted from corrosion.

On each side, pull off the large end of the rubber boots, to see if that space has PS fluid in there. I guess you might "find" the leak that way, but you still won't know if new seals will fix it. If you have to replace the cylinder bore that's essentially a new rack.