Are my safari and chrome passwords synced? I like to use safari for light browsing (and to prolong battery life).Sometimes I switch to chrome , when I need to(syncing stuff to android,etc). 

I would like to know if my passwords(maybe even bookmarks) are getting synced or not.

I am using yosemite 10.10.4 .

If its not being synced out of the box, is there any software that does the syncing ?
No - the browsers can try and grab a one time dump of settings, but you'll need a third party tool to either store/inject the password from a unified database or sync the results.

Best suggestion I have is to invest in 1Password, which syncs thru multiple methods and has extensions for Safari, Chrome and Firefox. 

The data also syncs to iOS devices Manual import of various settings when you open a browser repeatedly is a pain.