Since we're dealing with lycans, vampires and other supernatural creatures, there's some suspension of disbelief to be had, but I wanted to talk about silver weapons. 
Silver is harder than lead, but it is also light. If you were to fire a silver bullet from a rifled barrel, I would think it would fly inaccurately - silver is hard to cool uniformly and as a result, they would wobble due to their imperfect shape. It also cools and melts at different temperatures than lead; when it cools, it shrinks more, resulting in smaller rounds than whatever you're molding for. Because of the metal's hardness, the rifling of the barrel would gradually become very damaged. You'd also need a hotter furnace/temperature to melt them than you would a lead bullet.
A solution would be just to use normal, silver-jacketed bullets. A thin layer of silver might not cause as much damage to the barrel and be just as accurate as a typical round. However, the manufacturing process would probably be more than a simple garage and the average person could handle. Companies do make silver-jacketed bullets, but you're looking at steep prices for a full stock. Probably best to have a few as failsafes and stick to other rounds for typical use.

The most practical solution would probably be to take apart shotgun shells and fit them with bits of silver ball bearings or shrapnel from things like sterling flatware or jewelry. Much easier than trying to buy or cast your own specialty bullets. You might also be able to fit small bits of silver into the tips of hollow-point rounds.

As far a swords go, forget pure silver. The blade would be too flimsy to be of any use and it wouldn't hold an edge. It would blunt itself on impact and a normal steel blade could cut through it. A steel sword plated with silver might sound like a way around this, but again, after use, the silver would abrade itself off without much effort. Sterling silver could be better, but it's still not even as tough as bronze. You're better off using just about anything else.
The only feasible way to make a 'silver' sword is through a process of inlaying silver sheet by hammering it in a cross-hatched surface and locking it in place. They use this method in Spain for jewelry and it has been done for decorative swords: 
http://www.metmuseum.org/toah/hd/dect/hd_dect.htm <- Article concerning decorative art on arms/armor
http://smg.photobucket.com/user/cha-con/media/DSCN0751.jpg.html 
http://img.photobucket.com/albums/v12/cha-con/DSCN0760.jpg

Of course, unless our characters [i]just happen[/i] to be handy at metalworking, or very affluent, etc. silver equipment won't be a particularly common thing we have lying around.