I'll echo skp2bear, I was raised that it is a sign of respect to address anyone older and/more experienced than me with a Sir or Ma'am. I remember getting razzed by my agemates because of my ingrained form of address but I don't regret that politeness and courtesy are part of my natural speech.

Titles on the other hand must be earned. I don't call anyone Master or Mistress unless they are mine any more than I call anyone but my girl Pet.