The phrase means that we received this gift of faith when we were
redeemed through the righteousness of our saviour (rescuer) Jesus Christ
through our belief. Peter's faith came about as a result of having initmate knowledge of Jesus, having walked with him and witnessed his miracles, his crucifixion, his death on the cross: having seen the resurrected Jesus, and his ascension into glory.
Yes, our faith is equal to Peter's though our belief. We have also received the gift of righteousness which is redemptive and which allows us through our belief, to have the same power and authority that moved in Peter's life.