Per the Rules of the Road (1972 COLREGS)

Sailboats do NOT have the right of way, automatically, whether under power (they are at the bottom of heirarchy), under sail they do not have the right of way automatically although they are much closer to the top of the heirarchy (under vessel constrained by draft & vessel restricted in ability to manuever), or under power AND sail, they do not automatically have the right of way (they are at the bottom of heirarchy).

Sailing vessels have the right, when meeting or crossing another vessel to remain upwind of the other vessel so as to prevent the other vessel from "stealing" the sailing vessel's "wind".

In all cases, the overtaking vessel is the burdened vessel and must stay clear of the vessel being overtaken, at all times. The vessel being overtaken is required to maintain it's course and speed until the overtaking vessel is past and clear.

Sailing vessels are required to obey the steering rules as well as the sailing rules at all times!

By the way, I want to find those suckers (salesmen???) who keep telling sailboat owners that they have the Right of Way because they are a sailing vessel......